Ex-Homeland Security Legal Head Stevan Bunnell Joins Libra Association

The Libra Association has replaced its general counsel in merely three months, on-boarding Stevan Bunnell, a former general counsel at the US Department of Homeland Security (DHS), as the new top lawyer.

As seen on his Linkedin profile, Bunnell joined the tech and 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 consortium earlier this month, replacing Robert Werner, who joined the Association in May as its first general counsel.

Werner confirmed to Bloomberg Law that he decided to depart from the non-profit sector after such a short stint as he was required to relinquish his seat at the board of Deutsche Bank Trust Co. and Deutsche Bank Trust Co. Americas, which he did not want to give up.

Facebook along with many tech and payments industry partners formed the Libra Association last year to propel the issuance of a Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term that can be used across several Facebook-owned platforms. As the project is facing regulatory backlash from across the world, the position of the general counsel seems to be very crucial.

A Lawyer with Deep Ties with the Government

Bunnell joined the Libra Association from O'Melveny & Myers where he co-chained the data privacy and security practices since 2017. Before that, he was the general counsel at the DHS for over three years.

His ties with the public offices are deep as he also serviced the attorney general’s office at Washington DC and the US Department of Justice for over a decade in various positions.

Earlier this year, the Libra Association also made the key appointment of Stuart Levey, a former top Treasury Department official-turned-general counsel at HSBC Holdings, as the chief executive officer and also hired Sterling Daines, the managing director and global head of financial crime compliance at Credit Suisse, as the chief compliance officer.