Fledgling digital currency group the Libra Association has appointed Steve Bunnell as chief legal officer as General Counsel Robert Werner steps away from the group after three months on the job.
Werner, a former director at the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC), confirmed he was leaving Libra, telling Bloomberg Law he made the decision in order to maintain his spot on the board of directors for Deutsche Bank Trust Co. and Deutsche Bank Trust Co. Americas. Werner was announced as Libra’s general counsel in May.
Like Werner, Bunnell brings government experience to Libra as a former general counsel of the U.S. Department of Homeland Security and a former chief of the Criminal Division of the U.S. Attorney’s Office for the District of Columbia. He has also worked in private practice as co-chair of the Data Security and Privacy practice at international law firm of O’Melveny & Meyers.
Having faced regulatory scrutiny since being announced last year, Libra has previously stated its plans to build a best-in-class compliance program in the cryptocurrency space. The group announced Sterling Daines as its chief compliance officer in June.