Facebook hires lobbyists for Libra Stablecoin Project

Two additional lobbyists hired for Facebook’s upcoming Libra Stablecoin Project.

Bloomberg report on September 5th revealed that William Hollier, president of legislative and regulatory counseling firm Hollier Associates LLC, began lobbying on Facebook’s upcoming blockchain policy in the late of August. Hollier previously lobbied for Republican senator Mike Capo.

Facebook’s Libra project has generated renewed interest in digital currencies and blockchain […] with the appropriate balance of regulation, digital currencies, and their innovative underlying technology, could provide meaningful benefits. William Hollier

Additional lobbyist, Michael Williams of the Williams Group, was hired in July for Facebook’s Libra. He was previously involved in the investment banking group, Credit Suisse Securities.

FS Vector, a firm specializing in cryptocurrency, fintech, blockchain, and other financial services sector was also hired in the late of August for the same. The firm will provide business strategy, public policy, and regulatory compliance. Special consultancy will be provided to deal with the negative responses of the Libra Project.

In Facebook’s vision, it should become a global currency for billions of people, especially those in developing countries who have no access to banks or financial services. In other words, Digital money which you can transfer to other people or simply use to buy stuff. Wired.co.uk Report.

BTC specialist and founders of Gemini crypto exchange Tyler and Cameron Winklevoss announced a partnership with Mark Zuckerberg, exclusively for Libra. Cameron threw a positive light that Libra Stablecoin can be the path to mass adoption of cryptocurrency.

However, news surfaced in the late of August that three early supporters of Facebook’s Libra stablecoin have considered quitting due to pressures from the government for regulatory pushbacks.