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Cryptocurrency exchange Coinbase has enlisted the expertise of former British Chancellor of the Exchequer, George Osborne, as a global advisor, as the company navigates increased regulatory scrutiny in the United States.
Osborne, who served as the UK’s finance minister from 2010 to 2016, joins Coinbase’s advisory council alongside figures such as Mark Esper, former U.S. Secretary of Defense, and Patrick Toomey (R-PA). The council’s purpose is to guide Coinbase on a global strategy as it expands its presence worldwide.
Faryar Shirzad, Coinbase’s Chief Policy Officer, expressed the company’s pleasure in having Osborne on board during a crucial period. Osborne will play an advisory role, leveraging his extensive experience to connect Coinbase with political and regulatory figures, especially in the UK.
Osborne, currently a partner at boutique investment bank Robey Warshaw LLP, emphasized the transformative impact of blockchain technology on financial markets and online transactions. Coinbase CEO Brian Armstrong previously engaged in discussions with Osborne, marking the beginning of their collaborative efforts.
Coinbase, facing regulatory challenges in the U.S. and seeking clarity, is making strategic moves to strengthen its global position. The company has expanded into several European countries, securing licenses in France, Spain, Singapore, and Bermuda. Despite regulatory pressures in the U.S., Coinbase CEO Armstrong has clarified that the company has no formal plans to relocate from its San Francisco headquarters but remains open to investment abroad.
Osborne’s addition to Coinbase’s advisory council is seen as a significant step in bolstering the exchange’s regulatory capabilities and forming partnerships that advocate for crypto-friendly regulations globally. The move aligns with Coinbase’s commitment to navigating the evolving regulatory landscape while expanding its services and influence in the cryptocurrency market.