Facebook Strengthens Libra’s Lobby Army with 2 More Hires

As Facebook is facing resistance from lawmakers to launch Libra, it has hired two more lobbyists to push for its cryptocurrency in Washington.

Citing a lobby disclosure filing, Bloomberg yesterday reported that two powerful lobbyists - William Hollier and Michael Williams - are now trying to win over lawmakers with their influences in favor of Facebook.

Hollier, who is the president of Hollier Associates LLC, started lobbying for Facebook on Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term policy in late August, per the filings. He has deep Washington connections as previously he worked for Senator Mike Crapo (R-Idaho), the head of the Senate Banking Committee, which held a hearing on the privacy concerns of Libra earlier.

Previously, Facebook also hired another former aide of Senator Crapo, Susan Zook, to push for Libra in the Capitol Hill.

Williams Group’s Michael Williams started lobbying for the California-headquartered company in mid-July. Apart from Facebook, he also lobbies for the American Financial Services Association and Delta Air Lines Inc.

Influencing lawmakers on a bipartisan issue

Facebook’s rampant hiring of lobbyists shows its desperation to launch its digital currency within its set deadline of mid-2020.

Apart from the two recent hires, the company also on-boarded four other lobby groups in the past couple of months to influence blockchain policymaking. Finance Magnates earlier reported on the hiring John Collins of FS Vector to support “issues related to [Facebook’s] blockchain policy.”

Politico earlier reported that Facebook already spent $7.5 million on its Washington lobby groups this year and is now working with at least seven lobbyists for Libra including Sternhell Group, the Cypress Group, and the law firm Davis Polk.

The company was previously requested by multiple lawmakers in the US to halt the development of its crypto project until the regulatory issues are resolved.

Meanwhile, in Europe, the social media company is facing an antitrust probe for its plans to jump in the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term sector with Libra.