Former UK Chancellor of the Exchequer George Osborne has joined the advisory council of cryptocurrency exchange Coinbase.
Osborne, who served as chancellor from 2010 to 2016, will assist the US-based company as it seeks to expand internationally while navigating various regulatory challenges, including a lawsuit from the SEC alleging that it has been operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency.
Notably, Osborne moderated a panel last year where Coinbase CEO Brian Armstrong made headlines by suggesting the company might relocate its headquarters due to regulatory frustrations in the US.
Osborne expressed enthusiasm about his new role, stating: “There’s a huge amount of exciting innovation in finance right now. Blockchains are transforming financial markets and online transactions. Coinbase is at the frontier of these developments. I look forward to working with the team there as they build a new future in financial services.”
He joins an advisory council that also includes former US Secretary of Defense Mark Esper and former Senator Patrick Toomey. Faryar Shirzad, Coinbase’s chief policy officer, expressed his anticipation, stating: “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.”
In a related note, Philip Hammond, who succeeded Osborne as chancellor, joined digital asset custody and trading startup Copper as chairman last year.