launch its digital currency libra until it receives regulatory approval a senior executive at the social network plans to testify to u.s. lawmakers that the firm has no intention of directly competing with global currencies financial leaders around the world have expressed skepticism about facebook's plans among them u.s. treasury to treasury secretary steve minutiae one monday said his department had quote serious concerns that libor could be used for money laundering. e.u. member states have agreed to impose penalties against turkey over its gas drilling off the coast of cyprus the european union doesn't recognize the turkish claim to the north of the island but ankara and says that its actions are in line with international law. it was the dispatching of this turkish drill ship to what cyprus considers its exclusive waters that prompted the cypriot government to raise the alarm with the e.u. last week another ship soon followed. on monday e.u.