Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Crypto Prices Fall as Libra in EU’s Crosshairs

Published 08/20/2019, 11:50 PM
Updated 08/20/2019, 11:51 PM
© Reuters.
META
-
BTC/USD
-
XRP/USD
-
ETH/USD
-
LTC/USD
-

Investing.com - Cryptocurrency prices fell on Wednesday in Asia as regulators probe Facebooks’ project to launch its own digital coin, Libra.

Bitcoin fell 4.3% to $10,340.2 by 11:49 PM ET (03:49 GMT). Ethereum was down 3.8%, while XRP and Litecoin dropped 3.9% and 2.2% respectively.

The fall came after Bloomberg cited a document titled “Investigating Potential Anti-Competitive Behavior” and reported that antitrust regulators are probing Facebook’s Libra project.

Regulators are looking into “possible competition restrictions” on information that will be exchanged and the use of customer data under the two-month old Facebook (NASDAQ:FB) project, according to Bloomberg.

The article also noted that the European Union is also investigating whether the social network giant is using its size to “squeeze smaller rivals.”

Separately, Facebook (NASDAQ:FB) is also caught in the middle of the U.S.’s trade war with China , as state-owned newspaper China Daily accused the company for cracking down on accounts that reportedly were linked to Chinese campaign against Hong Kong’s ongoing pro-democracy protests. Chinese people “have the right to express their views,” the newspaper said.

Facebook (NASDAQ:FB) said, “we’re constantly working to detect and stop this type of activity because we don’t want our services to be used to manipulate people,” following its decisions to close hundreds of accounts related to the incident this week.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.