Competition watchdogs at the European Commission have begun probing potential anti-trust issues relating to Facebook's digital currency project Libra.
The European Commission is "currently investigating potential anti-competitive behavior" related to the Libra Association amid concerns the proposed payment system would unfairly shut out rivals, the EU authority said in a questionnaire seen by Bloomberg and sent out earlier this month.
Officials said they’re concerned about how Libra may create "possible competition restrictions" on the information that will be exchanged and the use of consumer data, according to the document.
Regulators are also examining the possible integration of Libra-backed applications into Facebook services such as WhatsApp and Messenger. It said their investigation focuses on the governance structure and membership of the loosely affiliated Libra Association, which comprises a number of major companies, including Visa, Mastercard and Paypal.
The probe is the latest in a series of hurdles facing Facebook as it strives to reassure regulatory bodies the world over about privacy, security and competition worries regarding its new currency unit.