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Facebook aims to use blockchain-like technology to build a new payment network from scratch with its own currency, Libra. However, global lawmakers have raised concerns regarding the privacy and security of this project.
Facebook has now hired a Washington Based lobbying firm, FS Vector which will influence US lawmakers and overcome the negative responses sparked after the Libra announcement. FS Vector specializes in regulatory compliance, public policy, and business strategy for the fintech, cryptocurrency, blockchain and financial services sectors. Earlier, Facebook had hired Susan Zook of Mason Street Consulting. There are now at least seven lobbyists for Libra.