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Global regulators to question Facebook's Libra amid EU concerns: Report

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

Reuters 

Facebook Libra

Global regulators will question 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.

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.

 

 

First Published: Sun, September 15 2019. 10:41 IST
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