May 6, the Libra Association announced the appointment of Obama'due south sometime under secretarial assistant for terrorism every bit its first CEO.

Stuart Levey served as an under secretary for terrorism under the administrations of George Due west. Bush-league and Barack Obama, focusing on the enforcement of all U.South. anti-money laundering and counter terrorist financing laws past the Financial Crimes Enforcement Network (FinCEN). In his most recent position, he served equally the primary legal officer at HSBC.

Levey'southward appointment continues a trend of Libra trying to brand peace with regulators.

Bipartisan support

The press release quotes Katie Haun, General Partner at Andreessen Horowitz and Libra Association lath member who led the CEO search committee:

"Stuart brings to the Libra Association the rare combination of an accomplished leader in both the government, where he enjoyed bipartisan respect and influence, and the private sector where he managed teams spread across the globe. This unique experience allows him [...] strike the right rest between innovation and regulation."

Empowering billion people while keeping bad players out

In his statement, Levey emphasized the importance of empowering a billion people while preventing illicit activity:

"I am honored to join the Libra Clan equally it charts a assuming path forward to harness the power of technology to transform the global payments landscape. Applied science provides u.s. with the opportunity to make information technology easier for individuals and businesses to send and receive coin, and to empower more than a billion people who have been left on the sidelines of the financial system."

Under scrutiny from the U.Due south. government, Libra has had to make some compromises to its original vision. Maybe, Levey, who enjoyed bipartisan support while in office and who has vast experience in the field of financial regulation is the man who will move the project forrad in the face of increasing competition.