Financial news

Global regulators to question Facebook’s Libra amid EU concerns – paper

By  | 

Via Yahoo Finance

(Reuters) – Global regulators will question Facebook <FB.O> on Monday about its Libra cryptocurrency, amid concerns from European Union governments over the threat the digital currency poses to financial stability, the Financial Times reported on Sunday.

Officials from 26 central banks, including the U.S. Federal Reserve and the Bank of England, will meet with representatives of Libra in Basel on Monday, the FT said https://on.ft.com/2NhhLMm, citing officials.

Libra’s founders have also been invited to answer key questions about the currency’s scope and design, FT said.

Facebook did not immediately respond to Reuters’ request for comment outside regular business hours.

Countries including France and Germany have publicly criticised the social media giant’s Libra project, saying it posed risks to EU states’ sovereignty.

(Reporting by Bhargav Acharya in Bengaluru; Editing by Himani Sarkar)

Print Friendly, PDF & Email

Hold dit netværk orienteret

READ ALSO  UK shoppers buy less, adding to slowdown signs for economy