A former
top UK government official brings his financial policy experience to the cryptocurrency
world. George Osborne, the previous Chancellor of the Exchequer, has joined the
advisory council of Coinbase.
The company
announced the appointment today (Wednesday) as the latest high-profile figure
to align with Coinbase amid the growing mainstream adoption of digital assets.
Osborne will advise the exchange on regulatory affairs and global expansion at
a crucial juncture, with Coinbase battling US regulators while accelerating its
push into European markets.
Osborne
served as Chancellor from 2010 to 2016 under the former Prime Minister David
Cameron. He was responsible for the nation’s finances and economic policy in
this role. Since leaving government, Osborne has worked in investment banking
and media.
According
to a statement from Coinbase’s Chief Policy Officer, Faryar Shirzad, the company
brought Osborne onto its advisory council “at an exciting time” as it
looks to expand its global reach. Shirzad said that Osborne “brings a wealth of
experience in business, journalism and government” and that Coinbase
expects to rely on his insights as it grows.
In an
advisory capacity, Osborne will aim to connect Coinbase with politicians and
regulators as the company seeks to advance crypto-friendly policies worldwide.
“Blockchains
are transforming financial markets and online transactions. Coinbase is at the
frontier of these developments,” commented Osborne. “I look forward
to working with the team there as they build a new future in financial services.”
Crypto Firms Hire Top
Regulators
While
George Osborne’s transition from the former UK Chancellor to a role at Coinbase
marks a significant move, it is not unique in the industry. Recently, there
have been several notable shifts, particularly involving figures from US financial
regulatory bodies.
For
instance, Peter Marton, who once served as the Deputy Superintendent of Virtual
Currency at the New York Department of Financial Services, has now taken up the
position of Director of Digital Identity at Fireblocks.
Similarly,
Brian Brookes, previously the Senior Deputy Comptroller at the Comptroller of
the Currency within the US Treasury Department, has recently joined the Board
of Directors at Hashdex. His focus there is on advising global regulation to
attract institutional investors and strategically collaborate with public
policymakers.
Furthermore,
Circle, the issuer of USDC, appointed Heath Tarbert earlier this year as their
Chief Legal Officer and Head of Corporate Affairs. Tarbert was the Chairman and
Chief Executive of the Commodity Futures Trading Commission. He served as the
Chief Legal Officer at Citadel Securities before joining Circle.
Rest of the article below the infographic:
Important Move amid Coinbase
Regulatory Pressure
The move
comes amid increased regulatory pressure on Coinbase in its home country, the
United States. Last year, the Securities and Exchange Commission (SEC )
filed a lawsuit against the exchange, alleging securities law violations, which
Coinbase denies.
The cryptocurrency industry is watching this legal dispute, as it may shed light on the extent of the SEC’s regulatory power over the digital asset space. Coinbase’s central contention is that the SEC is exceeding its regulatory bounds, arguing that the assets on its exchange do not constitute securities, setting them apart from conventional stocks or bonds.
The company
has recently secured licenses to expand its services in several European
countries, including France and Spain. Last year, Coinbase’s CEO, Brian Armstrong, suggested that the firm could consider moving overseas if the US regulatory climate and
SEC do not improve for crypto companies. However, Armstrong later clarified that
Coinbase has no formal plans to leave the country.
A former
top UK government official brings his financial policy experience to the cryptocurrency
world. George Osborne, the previous Chancellor of the Exchequer, has joined the
advisory council of Coinbase.
The company
announced the appointment today (Wednesday) as the latest high-profile figure
to align with Coinbase amid the growing mainstream adoption of digital assets.
Osborne will advise the exchange on regulatory affairs and global expansion at
a crucial juncture, with Coinbase battling US regulators while accelerating its
push into European markets.
Osborne
served as Chancellor from 2010 to 2016 under the former Prime Minister David
Cameron. He was responsible for the nation’s finances and economic policy in
this role. Since leaving government, Osborne has worked in investment banking
and media.
According
to a statement from Coinbase’s Chief Policy Officer, Faryar Shirzad, the company
brought Osborne onto its advisory council “at an exciting time” as it
looks to expand its global reach. Shirzad said that Osborne “brings a wealth of
experience in business, journalism and government” and that Coinbase
expects to rely on his insights as it grows.
In an
advisory capacity, Osborne will aim to connect Coinbase with politicians and
regulators as the company seeks to advance crypto-friendly policies worldwide.
“Blockchains
are transforming financial markets and online transactions. Coinbase is at the
frontier of these developments,” commented Osborne. “I look forward
to working with the team there as they build a new future in financial services.”
Crypto Firms Hire Top
Regulators
While
George Osborne’s transition from the former UK Chancellor to a role at Coinbase
marks a significant move, it is not unique in the industry. Recently, there
have been several notable shifts, particularly involving figures from US financial
regulatory bodies.
For
instance, Peter Marton, who once served as the Deputy Superintendent of Virtual
Currency at the New York Department of Financial Services, has now taken up the
position of Director of Digital Identity at Fireblocks.
Similarly,
Brian Brookes, previously the Senior Deputy Comptroller at the Comptroller of
the Currency within the US Treasury Department, has recently joined the Board
of Directors at Hashdex. His focus there is on advising global regulation to
attract institutional investors and strategically collaborate with public
policymakers.
Furthermore,
Circle, the issuer of USDC, appointed Heath Tarbert earlier this year as their
Chief Legal Officer and Head of Corporate Affairs. Tarbert was the Chairman and
Chief Executive of the Commodity Futures Trading Commission. He served as the
Chief Legal Officer at Citadel Securities before joining Circle.
Rest of the article below the infographic:
Important Move amid Coinbase
Regulatory Pressure
The move
comes amid increased regulatory pressure on Coinbase in its home country, the
United States. Last year, the Securities and Exchange Commission (SEC )
filed a lawsuit against the exchange, alleging securities law violations, which
Coinbase denies.
The cryptocurrency industry is watching this legal dispute, as it may shed light on the extent of the SEC’s regulatory power over the digital asset space. Coinbase’s central contention is that the SEC is exceeding its regulatory bounds, arguing that the assets on its exchange do not constitute securities, setting them apart from conventional stocks or bonds.
The company
has recently secured licenses to expand its services in several European
countries, including France and Spain. Last year, Coinbase’s CEO, Brian Armstrong, suggested that the firm could consider moving overseas if the US regulatory climate and
SEC do not improve for crypto companies. However, Armstrong later clarified that
Coinbase has no formal plans to leave the country.
