Libra Association hires Robert Werner as legal counsel
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The Libra Association has announced the appointment of Robert Werner as General Counsel.
The Libra Association was founded by social media giant Facebook to oversee the Libra token, an authorized blockchain digital currency. The plan calls for the Libra token to be backed by financial assets such as a basket of currencies and US Treasuries in an effort to avoid volatility. Membership in the association is comprised of geographically distributed and diverse nonprofit businesses and organizations working to create a blockchain-based payment system to support financial inclusion and responsible financial services innovation.
Prior to joining the Libra Association, Werner was the founder and CEO of GRH Consulting and held leadership positions at several top-tier institutions, including HSBC and Goldman Sachs, where he was the corporate executive for political relations, privacy and regulatory affairs, as well as directing the crime compliance financial sector for Merrill Lynch.
Werner has served at the highest levels of the US Treasury Department as Director of the Financial Crimes Enforcement Network, (FinCEN), Director of the Office of Foreign Assets Control (OFAC), Senior Counsel to the Undersecretary of the Treasury, Terrorism and Financial Intelligence and Assistant General Counsel for Enforcement and Intelligence in the Office of the General Counsel.
“I am grateful for the opportunity to join the Libra Association as we work to transform the global payments landscape to empower billions of people,” said Werner. “I have dedicated my career to fighting financial crime and helping complex organizations achieve regulatory compliance, both in the public and private sectors. I look forward to contributing significantly to a project of such impact. “
Werner’s appointment came after the Libra Association initiated the payment system authorization process with the Federal Financial Market Supervisory Authority (FINMA) on April 16, 2020. The association also issued a
updated white paper.
