The European Commissioner for Competition, Margrethe Vestager, is asking tough questions of Libra over its potential closed economy.
Facebook is reportedly already under investigation by the EU over antitrust issues related to its Libra cryptocurrency project.
Malta should increase its anti-money laundering policing to match the growth in financial and crypto services, according to the EU.
Over 100 firms including SWIFT, IBM and Ripple have joined a blockchain association officially launched by the European Commission on Wednesday.
Two top European finance regulators, the EBA and the ESMA, have separately said today that cryptocurrency and ICO rules are needed at the EU level.
The European Commission, the EU's executive body, is launching a blockchain app association next year and already has major banks on board.
The European Commission will conclude a regulatory assessment of crypto assets this year, because "they are here to stay," says an official.
Over 20 European countries have jointly established a new blockchain group to share technical and regulatory expertise.
European Commission vice president Andrus Ansip stressed the need for governments and private firms to invest in blockchain technology.
The European Commission said it will host a Fintech Lab to foster emerging technologies including blockchain starting from Q2 2018.