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© Provided by CBS Interactive Inc.The cryptocurrency Libra will be subject to an international magnifying glass. Thomas Trutschel / Getty Images
Facebook's balance will be faced with another set of questions. This time, it will be the international banks that will inquire about the company's plans for the cryptocurrency .
Representatives of Libya meet Monday with representatives of 26 central banks around the world, including US Federal Reserve, according to the Financial Times. The meeting in Basel, Switzerland, will focus on the "field of application" of cryptocurrency.
Since Libra was announced in June, government officials and regulators from around the world expressed their concerns. Committees of both American house and Senate held hearings on this topic in July.
The Libra Association, which is the Monetary Authority controlling Libra and which has been co-founded by Facebook, claims that the crypto-currency's aim is to "empower billions of people" who do not believe it. do not have access to bank accounts and could use digital currency for various transactions.
Concerns about Libra come in part from the mixed record of the social media company on the handling of privacy issues. Potential volatility, money laundering and consumer protection also raise concerns. Regulators assume that Libra could quickly gain popularity because of Facebook's global reach.
<span class = "image" data-attrib = "CNET" data-caption = "
Facebook will be questioned again on its cryptocurrency Libra.
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Facebook will be questioned again on its cryptocurrency Libra.
Facebook did not immediately respond to a request for comment.
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