Facebook Onboards Washington Lobbying Firm, Job Openings Available in Calibra’s Regulatory Team
Facebook has always been a hot topic for the U.S Congress and the launch of Calibra, the company’s cryptocurrency wing, was not to be any different. The social media giant has hired a Washington-based lobbying firm, to keep its interest intact as Congress continues its fight against the Libra cryptocurrency.
In a report from a U.S local daily claims, Facebook is looking for Congressional support to tackle its interests in the house given the drafted bills set to appear before the House. According to the reports filed to Congress the tech company is retaining FS Vector as their legal blockchain policy handlers.
FS Vector, a company founded in 2018 is looking to push forward the company in blockchain-based regulatory compliance, public policy and business strategy advisory to Calibra.
Congress against Facebook’s Calibra
In July, Congress drafted a bill titled, “Keep Big Tech Out of Finance Act” that aims to restrict any tech company that earns annual global revenues of $25 billion or more from dealing with financial systems and being an institution – “a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System.”
Furthermore, Trump tweeted earlier in the year warning Facebook to take up banking licenses if they want to issue currency and
“become subject to all Banking Regulations, just like other Banks.”
Facebook hires New Regulatory Team
Facebook isn’t done on new recruits in the regulations and compliance department as job posts flooded its career page on August 26. The company has released a list of 47 jobs – 27 targeted to Calibra – in the blockchain industry with regulation job openings topping the list.
The tech giant has an opening for Calibra’s general legal compliance department – A post is currently available for head of a bank secrecy act – anti-money laundering (BSA/AML), a banking executive in charge of BSA/AML related laws put in place across jurisdictions in the world.
The Calibra job openings include an Economics research scientist in Blockchain, data scientists and data engineers.