- Coinbase adds former British finance minister George Osborne to its advisory council for enhanced regulatory capabilities.
- Osborne’s role is to connect Coinbase with policymakers and support crypto-friendly regulations amid increased U.S. scrutiny.
- Coinbase expands across Europe with licenses while combating SEC regulatory challenges in the United States.
On Wednesday, Coinbase, the cryptocurrency exchange, announced the addition of George Osborne, a former British finance minister, to its global advisory council. This move is aimed at strengthening the company’s ability to navigate regulatory challenges, especially in the United States, where it is facing increased scrutiny.
George Osborne, who held the position of Britain’s chancellor of the exchequer from 2010 to 2016, will now be part of Coinbase’s global advisory council. This council includes notable figures such as Mark Esper, the former U.S. Secretary of Defense, and Patrick Toomey (R-PA). Its primary role is to provide guidance to Coinbase as the company expands its presence worldwide and formulates its global strategy.
Faryar Shirzad, Coinbase’s chief policy officer, expressed his satisfaction with George Osborne joining the council, emphasizing that it comes at a pivotal moment for the company’s growth in both the U.K. and the global market.
“George brings with him a wealth of experience in business, journalism and government. We look forward to relying on his insights and experiences as we grow Coinbase around the world.”
Faryar Shirzad, Coinbase’s chief policy officer
Osborne will assume an advisory role at Coinbase, where his primary responsibility will be to facilitate connections between the company and policymakers and regulators. His aim is to support the development of cryptocurrency-friendly regulations.
During his tenure as the chancellor of the exchequer, Osborne implemented a series of austerity measures designed to reduce the budget deficit. These measures included freezing child benefits, reducing housing benefits, and enforcing a two-year pay freeze for public sector employees. Additionally, he sought to stimulate business activity by cutting corporation tax rates.
Following his time as Britain’s finance minister, Osborne briefly served as the editor-in-chief of London’s Evening Standard newspaper. Currently, he holds the position of a partner at Robey Warshaw LLP, a boutique investment bank.
Osborne expressed enthusiasm about the ongoing innovations in the financial industry, particularly in the realm of blockchain technology, which is reshaping financial markets and online transactions. He noted that Coinbase is at the forefront of these developments and expressed his anticipation to collaborate with the team as they work towards a new era in financial services.
George Osborne’s involvement with Coinbase began with him moderating a fintech event where CEO Brian Armstrong spoke. They later engaged in discussions at the World Economic Forum in Davos.
Coinbase has been expanding its presence in Europe, obtaining licenses in France, Spain, Singapore, and Bermuda.
In the U.S., Coinbase faces regulatory scrutiny from the SEC, but the company denies any wrongdoing.
