The recent rejection of the Pound by the G7 does not seem to have delayed them.
Libra chooses ex-HSBC as CFONOTICS
The Libra Association, which oversees cryptomeda Libra, not yet launched, has just chosen a financial director and a risk director for the project.
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Ian Jenkins, who has experience with HSBC, Santander and Credit Suisse, will oversee the finance and risk management of the Libra Network, according to an announcement on 15 October.
The news comes just days after the G7 multigovernmental group explained Bitcoin Union that the project needed appropriate regulatory measures before it was launched.
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„The G7 continues to maintain that no global stablecoin project should begin operating until it adequately meets the relevant legal, regulatory and supervisory requirements through appropriate design and adherence to applicable standards,“ said a draft of the G7’s concerns.
Libra burst onto the global scene with the launch of its white paper in June 2019, but subsequently suffered a series of regulatory delays. Although the project launched an updated white paper in 2020, the changes have yet to meet US regulatory concerns.
Libra has continued to build its structure behind the scenes, posting a series of updates in recent weeks.
The Cointelegraph contacted Libra for further details, but received no response before the publication of this article. This article will be updated if there is a response.