Facebook’s Calibra Is Building a Compliance Team, Searching for Sanctions Lead

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Calibra, a digital currency wallet built by Facebook, is beefing up its compliance team as the company tries to convince U.S. and European regulators that the social media giant’s Libra project poses no legal threat. Now it’s bringing that conviction to the fore by hiring for a new compliance team to manage the many legal pitfalls it will face.For example, the company is looking for a specialist that will “lead the identification and analysis of our regulatory requirement and create policies, procedures and controls to ensure Calibra is fully compliant with all Sanctions requirements.” The job posting appeared on Facebook’s career website overnight.The sanctions lead will be working with Calibra’s legal and policy teams, interact with Facebook’s partners as well as the government agencies and regulators to ensure the product complies with worldwide requirements.Facebook is also looking for additional brainpower to enforce Calibra’s general legal compliance efforts. One posting, for…

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