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EU Antitrust Probe Is Facebook-Led Libra's Latest Headache

  • Regulators, politicans raised concern about new currency plans
  • A timeline of criticism from officials since announcement
PA - Libra
Photographer: Thomas Trutschel/Photothek via Getty Images

The new Libra digital currency hasn’t even launched yet, but barely two months after the Facebook Inc.-led association announced its plans, it’s already facing a number of stumbling blocks. In the latest example of rising regulatory scrutiny into Mark Zuckerberg’s cryptocurrency project, Bloomberg on Tuesday reported that the European Union’s antitrust watchdog is investigating Libra, raising questions about the prospects of success for the digital coin.

*June 18, 2019: Facebook announces plans to help create the Libra coin with 27 partners, including Visa Inc., Mastercard Inc. and Uber Technologies Inc. The digital currency, which would be tied to established government-backed currencies and securities, is set to launch as soon as next year.