Facebook Onboards Former Aide Of US Senator To Lobby For Its Libra Crypto Project
The world is watching Facebook and all of its moves related to the creation and regulation of the Libra stablecoin. Now, in order to protect its interests, Facebook has decided to hire a new person for its lobby team: Susan Zook.
Zook is the former aide of Senator Mike Crapo, a Republican that was once the chairman of the Senate Banking Committee. She is now working for Mason Street Consulting and decided to take on the new mission of convincing Senators that Facebook’s project is all good. According to reports, she will be focused on Republicans of the Senate, which are her contacts.
The announcement comes on the heels of the latest Libra hearing on the Senate. David Marcus, a Facebook representant, was interviewed at the time and had a tough time while defending the project.
The Senate drilled him on several issues that the token might face such as how it will work over several different jurisdictions, data protection, the privacy of the users and what measures will be taken in order to protect the clients of the company. Since the hearing, several lawmakers have presented some concerns about the future of the project.
So far, Facebook has spent at least $7.5 million USD in lobbying, but it looks like the company will have to spend a lot more in order to be effective and Zook is probably just one of the first people who were hired to convince the lawmakers of the U. S. to allow the creation of the project.
Other people hired to lobby for the company include Edward Bowles, who lobbied for Standard Chartered before, the Sternhell Group and the Cypress Group.