The Libra association brings in James Emmett to be the new managing director of Libra Networks LLC

• James Emmett, a former HSBC employee has just been appointed as managing director of the Libra Association subsidiary company, Libra Networks LLC. 

• After spending 25 years at the bank, he had numerous roles in his long career and most recently worked as a group general manager. 

James Emmett, a former HSBC employee has just been appointed as managing director of the Libra Association subsidiary company, Libra Networks LLC. After spending 25 years at the bank, he had numerous roles in his long career and most recently worked as a group general manager. He was even a former colleague of the new CEO of the Libra Association, Stuart Levey. He worked as the former Undersecretary for terrorism on administrations of George Bush and Barack Obama.

Writing in an official statement, the CEO highlighted the extensive experience that Emmett has as a financial service executive. He even goes on to highlight that his leadership will help make the vision for the stablecoin become a reality.

For those that don’t know, the Association is an independent membership organisation based in Geneva was created in order to regulate and Govern the stablecoin network in one way or another.

The future of the Facebook stablecoin is uncertain now. When it was announced last year, the backlash from many governments and regulators was extremely forceful.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!