Representatives of Facebook’s Libra cryptocurrency project will face global regulators in Basel on Monday in the first such meeting aimed at questioning the currency’s scope and design.
The meeting between Libra and the Committee on Payments and Market Infrastructure will be chaired by European Central Bank’s Benoît Coeuré, with top policymakers from 26 central banks, including the Federal Reserve and the Bank of England, in attendance.
It hopes to tackle all aspects of Libra, which has received strong opposition from European Union governments, whose finance ministers earlier expressed concerns about its impact on the EU’s financial stability and sovereignty.
