Facebook-backed Libra appoints former HSBC exec to head cryptocurrency

By Brenna Hughes Neghaiwi
ZURICH (Reuters) - The Facebook-backed <FB.O> Libra project has appointed former HSBC European head James Emmett to lead Libra's operational unit tasked with developing and operating the project's cryptocurrency payments system, the Libra Association said on Thursday.
The project has brought in a number of high-level hires since announcing a revamp and formally applying for a Swiss payments license in April, many of them specialised in financial compliance and with ties to U.S. government and authorities.
In May, Libra appointed HSBC's former chief legal officer Stuart Levey -- an erstwhile Under Secretary of the U.S. Treasury during the Bush and Obama Administrations -- to head the association overseeing the project.
Its Geneva-based governing body, the Libra Association, in April announced scaled-back plans for a cryptocurrency network linked to individual national ...


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