Global regulators to question Facebook’s Libra amid EU concerns: Report

Global regulators will question Facebook on Monday about its Libra cryptocurrency, amid concerns from European Union governments over the threat the digital currency poses to financial stability, the Financial Times reported on Sunday.

Officials from 26 central banks, including the U.S. Federal Reserve and the Bank of England, will meet with representatives of Libra in Basel on Monday, the FT said https://on.ft.com/2NhhLMm, citing officials.

Libra’s founders have also been invited to answer key questions about the currency’s scope and design, FT said.