Regulators question Facebook's cryptocurrency



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Regulators question Facebook's cryptocurrency



Global regulators will question Facebook on Monday about the 'Libra' cryptocurrency, amid concerns by EU governments about the threat the digital currency poses to financial stability, according to the Financial Times.

Officials from 26 central banks, including the US Federal Reserve and the Bank of England, will meet with Libra representatives in Basel on Monday, the Financial Times said, citing officials.



The cryptocurrency founders have also been asked to answer key questions about the currency field and model, the FT said.

Facebook did not immediately respond to Reuters' request for comment.

Countries such as France and Germany have publicly criticized the social media giant's 'Libra' project, saying it posed risks to the sovereignty of EU states.

Regulators question Facebook's cryptocurrency

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