Facebook's Cryptocurrency Libra Draws EU Antitrust Scrutiny

Law360 (September 5, 2019, 6:31 PM EDT) -- The European Union plans to examine competition concerns raised by Facebook's recent launch of the Libra cryptocurrency, according to the bloc's top antitrust regulator.

Margrethe Vestager, head of the EU's competition watchdog, said Wednesday that potential competition issues posed by Libra will be viewed in the context of how to deal with fast-moving markets.

Facebook's planned cryptocurrency — seen as driving secure private transactions without using a central currency — does not yet exist and was unveiled only months ago. But Vestager said one tool at the EU's disposal is that investigators "can even look at new services even before they're introduced."...

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