Facebook hires lobbying firm to help sweet talk cryptocurrency regulators
Facebook‘s “Cryptocurrency” Libra is facing an ever growing mountain of regulatory challenges. It seems it needs a helping hand, as it’s hired a specialist firm to lobby Washington directly.
According to registration documents filed earlier this week, Facebook will be represented by Washington, DC-based FS Vector LLC, a firm that specializes in regulatory compliance and public policy.
The lead lobbyist named is John Collins, partner at FS Vector and formally the head of policy at Coinbase. Collins also lead US Congress‘ first exploration into digital currencies back in 2013 – so it’s likely he’ll know a thing or two about the hurdles that Facebook‘s Libra is facing.
As part of the relationship FS Vector will have to file updates four times a year on the state of proceedings.
Given Facebook‘s track record of dealing with the regulatory challenges