Facebook [LIBRA] – Two more Lobbyists Join the Facebook Bandwagon to Sell Libra to US Lawmakers

Table of Contents

Social media giant Facebook has hired two more lobbyists for its embattled cryptocurrency Libra as it gears to launch it in test phase this coming quarter.

The first lobbyist, William Hollier is the president of Hollier Associates LLC. According to Lobbying Disclosures database, Hollier began lobbying for Facebook in regards to issues including blockchain policy since late August this year.

He has worked for Senator Mike Crapo of Idaho who currently heads the Senate Banking Committee. He did this between the years of 1993 and 2002, starting out as the legislative director and later ending as the chief of staff.

His lobbying firm now counts, among several others, Microsoft, Visa, U.S. Chamber of Commerce and the Independent Community Bankers of America as clients.

facebook libra

The second lobbyist is Michael Williams of the Williams Group who according to the disclosures database started offering his services to Facebook on July 14th (the date of registration.) Williams has previously worked for Credit Suisse as the managing director of its Securities division as well as the Public Policy Americas division in the same company.

His firm now lists as clients among others Delta Air Lines Inc., and the American Financial Services Association.

Just last week, Facebook also hired the lobbyist John Collins of FS Vector in Washington on matters related to blockchain policy.

Collins will reportedly be the lead in lobbying for the controversial Libra cryptocurrency, Facebook’s effort to disrupt the global payments and financial industry.

The initiative, which was revealed on June immediately faced fierce pushback from regulators and legislators alike most notable from the US Congress.

Congress Woman Maxine Waters has, on several occasions asked Facebook to agree to a moratorium on the Libra development efforts as the regulators discuss the possible adverse effects of allowing the project to launch.

So far, Facebook has hired more than 8 lobbyists, former Crapo aide Susan Zook of Mason Street Consulting as well as Davis Polk. Facebook’s executive David Marcus, who is the lead in the Libra cryptocurrency testified in front of the Congress this past July answering the panel’s questions on the proposed operation of the currency.

The most dominant question that was never answered was on trust issues that have plagued the social media giant and see as this is a problem that cannot be fixed using code, Facebook has chosen to lobby the lawmakers to warm up to the Swiss-registered entity.


Follow us on Social Networks

Crypto Tutorials

Crypto Reviews