The Libra Association, the group behind the Facebook digital assets project, revealed an update from its members.
Sterling Daines was appointed as the organization’s Chief Compliance Officer (CCO), according to a statement provided to Cointelegraph staff. Daines will leave his position at Credit Suisse sometime in 2020 to take up his role at the Libra Association.
According to Katie Haun of Andreessen, more projects similar to Libra will come from Facebook in the future.
Daines joins the organization to ensure safety
„I am pleased to join the Libra Association in its work to transform the digital space of finance to empower billions of people,“ Daines said in the statement, adding:
„A critical element in achieving this mission is to ensure that we are building a secure, compliant and reliable platform for all users, to which I hope to contribute significantly.
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Recent hires ensure compliance with regulations
Daines has previous experience in finance maintaining Anti-Money Laundering (AML) practices while preventing fraud and other harmful practices, according to the statement. Daines also worked for the powerful financial services company Bitcoin System as the firm’s global head of financial crime compliance, as well as CEO.
Several of the Libra Association’s recent hires demonstrate the organization’s desire to comply with regulations.
Cointelegraph contacted Libra for more details, but received no response so far from the press. This article will be updated accordingly if a response is received.