Representatives of the Libra Association, the body set up by Facebook Inc. to manage its Libra cryptocurrency, are set to be grilled by global regulators at a meeting in Switzerland on Monday, according to the Financial Times.

The meeting will be chaired by Benoît Coeuré, of the European Central Bank and will include representatives of 26 central banks, including the U.S. Federal Reserve and the Bank of England. The Libra representatives have been invited to answer key questions about the currency’s scope and design the report notes with the testimony feeding into a report being written for the G7 finance ministers in October.

Libra’s response to the request to attend was exactly on form, with a spokesperson saying that “in the nearly three months since the intent to launch the Libra network was announced, we have prioritized engagement with regulators and policymakers around the world. We welcome this engagement and have deliberately designed a long launch runway to have these conversations, educate stakeholders and incorporate their feedback in our design.”

The meeting will come four days after France’s Minister of the Economy and Finance, Bruno Le Maire told an Organisation for Economic Co-operation and Development conference that France would attempt to block Libra within the European Union.

Le Maire cited several issues he had with the cryptocurrency, the largest a belief that Libra is a risk to the monetary sovereignty of states since it may substitute itself as a national currency. Le Maire pulled out the usual tropes about cryptocurrencies as well, claiming that Libra will undermine attempts to combat money laundering and terrorist financing.

In an interesting twist, Cointelegraph reported that Coeuré, who will chair the meeting on Monday, told a meeting of EU finance ministers Friday that the ECB had been working on its own digital currency plan before the launch of Libra. At that same meeting, Le Maire also called on Europe to consider its own digital currency to challenge Libra, which he dubbed a “EuroCoin.”

That the EU may want to create its own cryptocurrency certainly raises suspicions about some of the accusations being thrown at Libra, given that Libra will offer competition to a potential EuroCoin.

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