The Libra Association, which oversees the yet to be released Libra cryptocurrency, has chosen its CFO and risk manager for the project.
Ian Jenkins, who has backgrounds at HSBC, Santander and Credit Suisse, will oversee the Libra Network’s finances and risk management, according to the October 15 announcement.
“Ian’s deep experience in the global economy, risk and strategy will be essential to making the vision of Libra a reality,” said James Emmett, CEO of Libra Networks. Emmett, himself a former HSBC CEO, joined Vekten in September 2020.
This news came just days after the Group of Seven (G7) states clarified that proper organization was necessary before the project began.
The G7 draft says: “The G7 continues to state that no stable global currency project should be initiated until the relevant legal, regulatory and regulatory requirements are properly met through appropriate design and adherence to established standards.”
The weight exploded on the world stage with the publication of the report in Parliament in June 2019, but there were a number of delays at a later date. Although an updated white paper was published as part of the project in 2020, the changes failed to meet US regulatory requirements.
Libra has quietly continued expanding its structure and has posted a number of updates in recent weeks.
Cointelegraph contacted Libra for more information, but did not receive a response before publication. This article will be updated accordingly if responses are received.