European Antimonopoly Committee begins verification of Libra project

The European Union antitrust regulator has launched an audit against the Libra cryptocurrency project being developed by the social network Facebook.

The regulator checks the possibility of monopolization of the market and the fact that Libra will illegally close competing systems. Officials emphasized that the project could “create restrictions for competitors” regarding information and the use of customer data.

It should be noted that the antitrust authority located in Brussels is the regulator that European companies are most afraid of. Facebook declined to comment on this information. Representatives of the antimonopoly commission also did not provide comments.

Recall that the announcement of the Libra cryptocurrency project caused concern among regulators in various countries, and some lawmakers even called for a ban on the development of stablecoin.