Shift to the Left Stewart (Stuart Levey)

Shift to the Left Stewart (Stuart Levey)

Biography

2020: Appointment as head of Libra Association

In early May 2020, the organization Libra Association responsible for the development of the payment system and appointed cryptocurrencies Libra former employee of the Ministry of Finance USA Stuart Levey as its general director. In the ministry, he served as Deputy Minister for Terrorism and Financial Intelligence. Since 2012, he has been working as the head of the legal department in. HSBC

As the head of Libra Association, Levey will focus on the legal aspects of Libra's promotion in the global market, in particular, on cooperation with financial market regulators and obtaining the necessary permits. This is not an easy task, the complexity of which has already called into question the future of the project.

Currently, the association receives permits to launch a payment system in the United States and Europe. And the main questions for Libra are whether this system will not be used to conduct illegal activities. Levey, who was investigating illegal financing schemes at the Ministry of Finance, will have to convince the authorities of various countries to the contrary.

Libra Association expects Levey's experience to help her overcome legal barriers. The organization, in particular, pointed out the fact that HSBC Holdings, whose legal department he now heads, is present and successfully conducts activities in 64 states.

Stuart Levey will help us implement our innovative and competitive project that meets all the necessary regulatory requirements, the association's statement says.

In April 2020, Libra Association began licensing the Libra system in Switzerland, where it is headquartered in Geneva, applying to the Swiss Financial Markets Supervision Service. The organization plans to bring Mark Zuckerberg's payment system to the commercial market by the end of 2020.^[1]

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