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The EU has reportedly been investigating Facebook for antitrust issues related to its Libra cryptocurrency project.
A document seen by Bloomberg indicates that the European Commission "is currently investigating potentially anti-competitive behavior" by the Libra association. The report describes the document as a questionnaire suggesting to the Commission that Facebook's proposed digital payment system could unfairly exclude competitors.
The governance structure and composition of the Libra Association are apparently under surveillance. A number of large companies, including Mastercard and Visa, have already signed partnership agreements with the Libra Association on the project.
The European Commission is also concerned that Libra will result in "possible restrictions of competition" on the use of information, including user data. It also examines the possibility of integrating applications into Facebook services such as WhatsApp and Messenger that use Libra.
This type of questionnaire is usually sent at an early stage on EU information gathering requests, says Bloomberg.
The European Commission is the executive body of the EU. It proposes and enforces legislation, implements policies and budget. Bloomberg said the commission and Facebook did not want to comment on the document.
Facebook has faced a wave of concern from regulators around the world about its digital currency plans. American legislators have even asked that the project be stopped until problems can be examined and discussed.
A delegation of US lawmakers led by MEP Maxine Waters is scheduled to discuss Libya with the Swiss Data Protection Officer during her visit to the country this week.
With the Libra association incorporated in Switzerland, Facebook has stated that it expects the Federal Data Protection and Information Commissioner to be its regulator of data privacy. However, Commissioner Adrian Lobsiger, previously said that Facebook had actually not been in touch with the project and had called for more information.
According to a Reuters report released Wednesday, the Lobsiger office announced yesterday that it hoped to receive details on the Libra by the end of the month.
Image of the European Commission via Shutterstock
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