Libra Association hires former Homeland Security general counsel as its top lawyer

Source: The Block 2020-08-28

The Libra Association has hired a new top lawyer for the second time in three months.

Steve Bunnell, a former general counsel at the U.S. Homeland Security Department, has joined the association as its chief legal officer, according to Bunnell's LinkedIn profile. Bloomberg Law first reported the news.

Bunnell previously also had a stint with the U.S. Department of Justice and the U.S. Attorney's Office. Prior to joining the Libra Association, Bunnell co-chaired the data privacy and security practice at law firm O'Melveny & Myers. O'Melveny advised Coinbase, Kraken and other six crypto companies on the creation of the Crypto Rating Council last year.

Bunnell has now replaced Robert Werner, a former director of the Financial Crimes Enforcement Network (FinCEN), who joined the Libra Association as its first general counsel in May. Werner told Bloomberg Law that he left the association because continuing the role would have required him to give up seats on the board of directors for Deutsche Bank Trust Co. and Deutsche Bank Trust Co. Americas, which he has "very much enjoyed over the past year."

In May, the Libra Association also appointed Stuart Levey, the former chief legal officer for HSBC, as its CEO. Levey previously worked for the U.S. Treasury Department and the U.S. Department of Justice.

The association's recent appointments show that the Facebook-led group is poaching former government officials to win over regulators for its Libra stablecoins, which are expected to launch later this year.

Libra Association hires former Homeland Security general counsel as its top lawyer

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