Facebook is hiring more specialists to meet all regulatory requirements for libra

Aug 27, 2019

The fact that Facebook is planning to release a cryptocurrency called libra next year has probably not escaped anyone in the crypto world (not in the rest of the financial world either for that matter).

But since the social media giant announced the news, the project has been met with a lot of criticism, not least from politicians and lawmakers around the world.

Among other things, US President Donald Trump and the same country’s Congress have sharply criticized the project.

Want to meet all regulatory requirements

In order to please lawmakers in the United States and Europe and meet all regulatory requirements, Facebook now seems to want to hire appropriate expertise for Calibra, the digital wallet that users will be able to store libra in.

A new team that will work with “compliance”, that is that a company’s activities follow the current laws and regulations that exist, is now taking shape at Facebook, Coindesk writes.

27 vacancies for Calibra

At Facebook’s career website, there are currently 27 vacancies for Calibra alone. The jobs include “head of compliance” and “head of fraud”.

Facebook is also looking for a specialist who will “lead the identification and analysis of our regulatory requirement and create policies, procedures and controls to ensure Calibra is fully compliant with all sanctions requirements”, according to the job description.

For another job regarding anti-money laundering (AML), Facebook is looking for a skilled banking executive. The person’s job will be to ensure that Calibra’s policies “are designed to comply with BSA/AML related laws and regulations globally”.

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