Facebook Hires British Bank Lobbyist to Push Its Crypto

Bowles is now Standard Charter's European head of corporate and public affairs Ed Bowles is set to join the social media giant in September as director of public policy, the Financial Times reported. The hire is believed to be geared towards GlobalCoin by ensuring that preparations have been made for political and regulatory scrutiny from the European Union regarding the virtual asset's launch.

FT has not provided any sources confirming Bowles switch from Standard Chartered to Facebook and his LinkedIn profile maintains the position of Managing Director at the bank.

Bowles, a banking lobbyist who joined Standard Chartered in 2007, is set to help Facebook push ahead with its global cryptocurrency strategy, as it is likely to face scrutiny in Europe.

The two analysts had previously predicted that Facebook would release the white paper of the new project - codenamed Libra - on June 18. This includes two former compliance managers that migrated from Coinbase in May.

It has been in development for more than six months - though the company indicated it has contemplated enveloping cryptocurrency into the social network as far back as the end of 2017 - and has 100 staff working on its development.

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