Former U.S. Undersecretary of Treasury becomes CEO of Facebook’s crypto project Libra


Stuart Levey, legal director of the global banking giant HSBC, became the CEO of Libra, the governing body of Facebook’s crypto money initiative Libra.

“Libra Union, an independent organization, is pleased to announce that Stuart Levey has been appointed as the first CEO,” the Libra Union said in a statement. It was said and it was emphasized that Levey has vast experience in banking, regulatory policy and national security in the public and private sectors.

Prior to HSBC, Levey served as the Undersecretary for Terrorism and Financial Intelligence at the US Treasury Department in the Bush and Obama administrations. It was noted that Levey, who held this position between July 2004 and March 2011, was effective in determining US policies and international policies in the fight against illegal finance during his tenure. Levey had previously worked at the US Department of Justice.

In his first statement on the subject, Levey stated that he is honored to join Libra and is looking forward to working closely with governments, regulators and all shares to realize Libra’s vision.

Among the members of Libra, led by Facebook, are giant companies such as Andreessen Horowitz, Coinbase, Lyft, PayU, Spotify, Uber and Shopify.

Libra is having busy days
Libra has been having a busy time lately. Last month, Libra, which has revised its plan to create a single global currency based on various country currencies and government bonds, and instead aims to develop several stable cryptocurrencies, each of which will now be backed by different currencies, announced last week that payment company is included in the project. Libra announced that the global non-profit organization Heifer International joined the Libra Union a week ago. The project is aimed to be released in the last quarter of this year.

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