UK Standard Chartered lobbyist reportedly set to join Facebook to help with cryptocurrency launch

Facebook has hired a UK Standard Chartered lobbyist as its London-based director of public policy, as per the Financial Times. Ed Bowles, who worked at StanChart for 12 years and holds the position of European head of corporate and public affairs, will join the social media giant in September to help push its cryptocurrency, the report said. 

Facebook is preparing for the launch of its cryptocurrency and payment platform and is reportedly talking to regulators so that it can ensure its services are compliant to the existing regulations. Due to a number of privacy-related scandals, regulators are concerned about whether Facebook will be able to comply with anti-money laundering and know-your-customer rules financial institutions need to follow.


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