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Global regulators will question Monday about its cryptocurrency Libra Facebook, while EU governments worry about the threat that digital currency poses to financial stability, reported on Sunday. the Financial Times.
FILE PHOTO: Images of small toys are visible on the representations of the virtual currency in front of the Libra logo in this image, June 21, 2019. REUTERS / Dado Ruvic / File Photo
REUTERS: Global regulators will question Facebook on Libra cryptocurrency on Monday, as EU governments worry about the threat that digital currency poses to financial stability, the Financial Times reported on Sunday.
Officials from 26 central banks, including the US Federal Reserve and Bank of England, will meet with Libra representatives in Basel on Monday, the FT said at the address https: //on.ft. com / 2NhhLMm, citing officials.
The founders of Libra were also asked to answer key questions about the scope and design of the currency, FT said.
Facebook did not immediately respond to Reuters' request for comment outside of normal business hours.
Countries like France and Germany have publicly criticized the social media giant's Libra project, saying it poses risks to the sovereignty of EU states.
(Report by Bhargav Acharya in Bengaluru, edited by Himani Sarkar)
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