The antimonopoly regulator of the European Union has begun an audit regarding the Libra cryptocurrency project, developed by the Facebook social network.

The regulator is checking the possibility of monopolization of the market and the fact that Libra will unlawfully close competing systems. Officials stressed that the project could “create restrictions for competitors” regarding information and the use of client data.

It should be noted that the antitrust authority located in Brussels is the regulator that European companies are most afraid of. Facebook declined to comment on this information. Representatives of the Antimonopoly Commission also did not provide comments.

Recall that the announcement of the Libra cryptocurrency project caused concern among regulators in various countries, and some lawmakers even called for banning the development of a stablecoin