Libra Association Hires Robert Werner As General Counselbr>
The Libra Association has announced the appointment of Robert Werner as General Counsel.
The Libra Association was established by social media giant Facebook to oversee the Libra token, a permissioned blockchain digital currency. The plan is for the Libra token to be backed by financial assets such as a basket of currencies, and US Treasury securities in an attempt to avoid volatility. The association membership is comprised of geographically distributed and diverse businesses and nonprofit organizations working to create a blockchain-based payment system supporting financial inclusion and responsible financial services innovation.
Before 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 enterprise executive for policy, privacy and regulatory relations, in addition to heading financial crime compliance for Merrill Lynch.
Werner has served at the highest levels of the United States Department of the Treasury as the Director of the Financial Crimes Enforcement Network, (FinCEN), Director of the Office of Foreign Assets Control (OFAC), Senior Counsel to the Under Secretary 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 combating financial crime and helping complex organizations achieve regulatory compliance, both in government and in the private sector. I look forward to meaningfully contributing to such an impactful project.”
Werner’s appointment came after the Libra Association started the payment system licensing process with the Swiss Financial Market Supervisory Authority (FINMA) on the 16th of April, 2020. The association also released an
updated white paper.