The G7’s recent rejection of Libra doesn’t seem to have slowed them down.
The Libra Association, which oversees the as-yet unreleased Libra cryptocurrency, has chosen a chief financial officer and chief risk officer for the project.
Ian Jenkins, who touts experience from HSBC, Santander, and Credit Suisse, will supervise the Libra Network’s finances and risk management, according to an Oct. 15 announcement.
The news comes only days after the multi governmental group G7 explained that the project needed proper regulatory measures in place prior to launch.
“The G7 continues to maintain that no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements through appropriate design and by adhering to applicable standards,” said a draft of the G7’s concerns.
This story is developing and will be updated.
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