Facebook's digital currency

12.7.2019

Question for written answer E-002268-19
to the Commission
Rule 130
Roberta Metsola (PPE)

In June 2019, Facebook announced that it will launch a new digital currency called ‘Libra’ in 2020. Plans have been unveiled for this prospective digital currency to be transferable via social media applications such as Facebook Messenger and WhatsApp.

What steps does the Commission plan to take to regulate emerging technologies that are used in existing fields such as social media and digital currencies?

Specifically, how will it ensure that citizens’ rights are adequately safeguarded while at the same time promoting innovative technologies?