Facebook has been part of the headlines for a while now because of their upcoming project ‘Libra‘ and because of all the problems that are coming with it. Libra is facing a strong pushback by the government authorities because of the record of Facebook and the issues of user security.
In between all this, Facebook announced the news of hiring another lobbying firm, FS Vector, as a part of their project. The firm will help them take care of the ‘issues related to blockchain policy,’ according to the lobbying registration documents given to Congress.
Facebook unveiled its plans in June about the digital currency, and when it will be launched. They explained how this initiative would help in bringing back so many ‘unbanked’ billions in the digital economy. The currency is set to launch sometime next year, but before that, it has to meet the regulatory approvals.
The firm FS Vector was launched in 2018, and it bills itself as regulatory compliance, public policy, and advisory firm for business with its expertise in fintech, cryptocurrency, blockchain financial services markets.
John Collins, a partner at FS Vector, will lead the Facebook account. Collins previously worked as the head of policy for Coinbase and as the vice president of International Policy at Bankers Association for Finance and Trade.
With this recent hiring of FS Vector, there are now at least 7 lobbyists that are part of Libra, with previous lobbyists being Sternhell Group, Cypress Group, BakerHostetler, and others.
