FILE PHOTO: Small toy figures are seen on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic
BRUSSELS (Reuters) – EU antitrust regulators want to know whether Facebook’s (FB.O) proposed Libra cryptocurrency and its use of consumer data pose possible anti-competitive constraints, people familiar with the matter said on Wednesday.
The European Commission sent out a questionnaire earlier this month to various parties involved in Libra, giving respondents two to three weeks to provide feedback, the people said. By sending out a questionnaire, the EU could be preparing the ground for a formal investigation.
The EU competition enforcer’s main focus is on the use of consumer data, the people said.
Facebook has linked up with 28 partners in a Geneva-based entity called the Libra Association, which will govern its new digital coin, which is due to launch in the first half of 2020.
“The Commission is in particular concerned about the possible competition…