Altcoin News: Facebook Hires Another Lobbying Company for Libra

August 26, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Facebook has hired yet another lobbyist in an attempt to influence US lawmakers regarding the launch of the Libra cryptocurrency project.

FS Vector, a financial consulting, policy and regulatory advisory firm, will now support Facebook on “issues related to blockchain policy”. It is reported by O’Dwyer’s, referring to the registration documents submitted by Facebook to the US Congress.

According to the report, the Facebook account will be led by FS Vector partner John Collins, who was previously the head of politics at Coinbase and was vice president of international affairs at the Bankers Association. Recall that earlier this month, Facebook also hired a former U.S. Senator to lobby for Libra.

A two-day hearing took place in the US Congress in mid-July, during which Calibra Project Manager David Marcus answered a series of questions from lawmakers regarding Libra. He managed to dispel some of the doubts of the regulators, but many questions remained open. At the end of last month, it became known that Facebook may refuse to launch Libra due to pressure from regulators.

Author: Marko Vidrih