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Former U.S. Homeland Security Department general counsel, Stevan Bunnel, has been appointed as Libra's top lawyer.
Stevan Bunnel, former general counsel for the U.S. Department of Homeland Security (DHS), has been revealed as the Libra Associationâs new leading lawyer.
Since leaving the Homeland Security Department in 2017, Bunnell co-chaired the data privacy-focused legal practice OâMelveny & Myers until joining the Libra Association this month.
The associationâs former general counsel, Robert Werner told Bloomberg Law that he chose to depart from the position after it became clear it meant he would have to relinquish an existing position on the boards of directors for Deutsche Bank Trust Co.
âSteve is an outstanding lawyer and a great guy,â Werner told Bloomberg.
Werner, a former director for the Financial Crimes Enforcement Network (FinCEN) and former senior counsel to The Under Secretary of The Treasury, was appointed by the Libra Association in May. His departure was not publicized, with his name quietly being removed from its list of executives at some point during August.
Bunnelâs appointment comes two weeks after Facebook launched a new product division focused on âpayments and commerce opportunitiesâ with Libraâs co-creator, David Marcus, heading the branch. The divisionâs first task will be introducing payments into WhatsApp in select emerging markets including Brazil and India.
The move follows the suspension of WhatsApp payments by Brazilâs regulators in July after initial trials of the feature, with lawmakers citing concerns that Facebook may be able to capture a monopolistic dominance over the countryâs payments sector.
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