Altcoin News: Facebook Hires Former US Senator Assistant to Lobby on Libra

August 7, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The former Assistant of Chairman of the Senate Banking Committee will represent the interests of Facebook’s Libra cryptocurrency project.

Susan Zook from Mason Street Consulting, who was previously Assistant Senator Mike Crapo, will be one of Libra’s lobbyists working with US lawmakers. Zook’s task is to establish relationships with Senate Republicans, with whom she collaborated when she worked with Crapo.

According to Politico, Facebook had to spend more than $7.5 million in lobbying for its initiatives this year. The list of costs includes not only resources aimed at attracting experts to senior positions, but also hiring more than a dozen professional firms to defend the interests of a cryptocurrency project, for example, Sternhell Group and Cypress Group.

Recall that in the middle of last month, a two-day hearing was held in the US Congress, during which the head of the Facebook blockchain unit, David Marcus, answered a number of questions from lawmakers regarding the Libra project. He managed to dispel part of the regulators’ doubts, but the lion’s share of questions remains open.

Author: Marko Vidrih