The Facebook-backed 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.
FILE PHOTO: A 3D-printed Facebook Libra cryptocurrency logo is seen in front of displayed German flag in this illustration taken, September 13, 2019. REUTERS/Dado RuvicLibra 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.
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. Central banks and regulators had feared its original plan for a single coin backed by various currencies and government debt, unveiled in June 2019, could erode national control over money if adopted widely by Facebook’s billions of users.
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