Australian Regulators to Probe Facebook Currency ‘Libra’

Facebook co-founder and CEO Mark Zuckerberg (L) testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill October 23, 2019 in Washington, DC. Zuckerberg testified about Facebook's proposed cryptocurrency Libra, how his company will handle false and misleading information by political leaders during the 2020 campaign and how it handles its users' data and privacy. Chip Somodevilla/Getty Images

Australia’s financial and consumer watchdogs aren’t happy with Facebook’s proposed global digital currency Libra, also known as the “Zuck Buck.”

The eight regulators, including the Australian Securities and Investments Commission (ASIC), plan to investigate Libra after the social media giant failed to address concerns about the currency.