The Libra Association, which oversees the not-yet-released Libra cryptocurrency, has selected a chief financial officer and risk officer for the project.
Ian Jenkins, promoting the experiences of HSBC, Santander and Credit Suisse, will oversee the Libra Network’s finance and risk management according to an announcement made October 15.
“Ian’s deep understanding of global finance, risk and strategy will be critical to bringing the Libra vision to life,” said James Emmett, general manager of Libra Networks, in the announcement. Emmett, himself a former HSBC brass player, came to the scales in September 2020.
The news comes just days after the G7 multi-government group stated that the project needed appropriate regulatory action before it could launch.
“The G7 continues to claim that no global stablecoin project should be operational until it adequately takes into account relevant legal, regulatory and regulatory requirements through appropriate design and compliance with applicable standards,” said a draft of the G7’s concerns.
The Libra hit the global scene with its whitepaper in June 2019, but subsequently suffered a number of regulatory delays. Although the project released an updated white paper in 2020, the changes failed to address U.S. regulatory concerns.
Libra has continued to expand its framework behind the scenes and released a number of updates over the past few weeks.
Cointelegraph reached out to the Scales for more details, but received no response prior to publication. This article will be updated accordingly if a response is received.
UPDATE October 15, 14:40 UTC: This article has been updated with additional information.