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Bush administration chief intelligence officer to lead Libra association
Libra Association recruits former officials
Mark Zuckerberg does not back down from the decision to launch Libra
Countries Call for Ban Libra
Libra Association In June 2019, Facebook announced preparations for the release of the Libra digital currency. The social networking project immediately attracted attention … More announced that Stuart Levy had been named the organization’s first CEO. He will take office this summer after leaving his position as Chief Legal Officer at HSBC Holdings. Previously, Levy was the first deputy secretary of finance and terrorist intelligence in the administrations of George W. Bush and Barack Obama..
Sanctions against Iran and other achievements
The personality of Levy became famous during the reign of George W. Bush. Stuart Levy personally took part in overseeing the implementation of sanctions against Iran, putting pressure on international banks not to do business with the enemy country. Also one of Levy’s tasks was to cut off legal funding channels for Saudi Arabia, which, according to the United States, sponsored al-Qaeda..
According to the Telegraph, FacebookIn June 2019, Facebook announced preparations for the release of the digital currency Libra. The social networking project immediately attracted attention … More deliberately hired a former official in the hope that it would help them soften the attitude of regulators who oppose the creation and launch of Libra. In addition, in this way the company wants to prove to the government and shareholders that stablecoins – in literal translation from English “stable” coins – continue to gain popularity in the digital asset market. With … More will not be used to finance crime around the world and does not seek to undermine major financial projects such as the euro.
“I am honored to be a member of the Libra Association as it charted a bold path forward to harness the power of technology to transform the global payments system. Technology gives us the ability to make it easier for individuals and businesses to send and receive money, as well as empower the more than a billion people who are left on the margins of the financial system, all of whom have strong controls to detect and stop illegal financial activity. I look forward to working closely with governments, regulators and all of our stakeholders to realize this vision, “Libra’s press service quoted Levy as saying..
Will this help Libra
Recall that the US government opposes the creation of the stablecoin Libra and the launch of a single global payment system. According to representatives of Congress, the use of stablecoin will hit America’s financial policy and devalue the dollar. In fact, the US currency can no longer be considered global. And this congressmen cannot allow.
The news of a possible Libra launch has encouraged other countries to create their own digital currencies. For example, China, fearing a possible launch of a stablecoin, has created its own digital currency, which is currently being tested within the state. And from May, employees of some city administrations will start receiving salaries not in yuan, but in digital currency..
The launch of Libra in the EU is no less fearful. Union members call to ban the admission of stablecoin to the eurozone, as well as ban European banks from lending to the development of the Calibra platform.
Nevertheless, Mark Zuckerberg himself is not going to give up the idea of creating a global payment system. He promised not to launch a stablecoin until the legitimate conditions for the circulation of the cryptocurrency are created. But it will not delay the process either. The project has already lost several investors who did not wait for approval from the US government.
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