May 6th The Libra Association announced the appointment of Obama’s former Under Secretary of State for Terrorism as the first director general.
Stuart Levey was under Secretary of State for Terrorism under the administrations of George W. Bush and Barack Obamafocusing on the application of all US anti-money laundering and terrorist financing laws by the Financial Crime Control Network (FinCEN). In his last position, he worked as legal director at HSBC.
Levey’s appointment continues Libra’s trend to make peace with regulators.
The press release quotes Katie Haun, general partner of Andreessen Horowitz and board member of the Libra Association Who was Chairman of the CEO Search Committee:
“Stuart brings the Libra Association the rare combination of an accomplished leader both in the government, where he enjoyed non-partisan respect and influence, and in the private sector, where he led teams across the globe. This unique experience enables him […] find the right balance between innovation and regulation. “
Empower a billion people while keeping bad players away
In your statement Levey underlined the importance of empowering a billion people while preventing illegal activity::
“It is an honor for me to join the Libra Association because it shows a bold way to use the power of technology to change the global payment landscape. The technology gives us the opportunity to make it easier for individuals and businesses to ship and to make money and educate more than a billion people who have been excluded from the financial system. “
Under the control of the United States government, the Libra had to make some compromises with its original vision.. Perhaps Levey, who has been supported by both parties in office and has extensive financial regulation experience, is the man who will drive the project forward in the face of increasing competition.