Libra association appoints new executive

After the recent appointment of its managing director, the Swiss foundation Libra created by Facebook just named her legal council.

The Libra Association announced the arrival of Rober Werner, a specialist in corporate law and finance who worked for Goldman Sachs, Bank of America and even HSBC, as legal director.

Mr. Werner brings extensive experience in financial and law enforcement and regulatory compliance through his work in the public and private sectors, ”said a press release.

Werner also worked for the United States Department of the Treasury, including as director of the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC).

I am grateful for the opportunity to join the Libra Association. We are working to transform the global payments landscape to empower billions of people. I have spent my career fighting financial crime and helping complex organizations meet regulatory compliance goals, both in government and in the private sector, "said Werner.

In early May, the Geneva-based crypto-foundation appointed Stuart Levey, former First Under-Secretary of the United States Treasury, as CEO.

Faced with opposition from regulators, Facebook has deeply lowered its ambitions. Libra now wants to be a closed payment system. Forgotten (almost) the single stablecoin in favor of multiple local electronic currencies.

While several important members like Visa and PayPal left the project at the end of 2019, this year, 5 new entities, including Checkout.com, Paradigm and Heifer International, joined the initiative, whose primary ambition is to improve the financial inclusion of unbanked people and give them the opportunity to participate in the digital economy.