Coinbase engages the UK Treasury’s former head as an advisor

George Osborne will be tasked with helping the exchange interact with governments and regulators

31.01.2024 - 14:53

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3 min

What’s new? US crypto exchange Coinbase has brought on George Osborne, who served as UK finance minister from 2010 to 2016, as an advisor. The former official has joined a global board tasked with advising the exchange as it expands its business around the world. It also includes former US Defense Secretary Mark Esper and former Pennsylvania Senator Patrick Toomey.

Material by CNBC

What else is known? Osborne will assist Coinbase in engaging with politicians and regulators to lobby for the adoption of cryptocurrency-friendly legislation.

As head of the Treasury, he took a number of measures to reduce the budget deficit, including freezing child and other social benefits, as well as payments to public sector employees, among other things. He also tried to stimulate business by reducing corporate tax.

After leaving the Treasury, Osborne briefly headed the editorial board of the Evening Standard newspaper in London and is now a partner at investment bank Robey Warshaw.

Osborne said blockchain technology is transforming financial markets and online transactions, and Coinbase is at the forefront of these developments.

“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,” said the exchange’s chief policy officer, Faryar Shirzard.

Coinbase has previously obtained licenses in France, Spain, Singapore and Bermuda. In the U.S., it is still pursuing legal action against the Securities and Exchange Commission (SEC) over an unregistered offering of securities.

Coinbase will buy a company in the EU to launch crypto derivative trading services

The deal is expected to be approved by regulators later this year

Earlier, US Senator Elizabeth Warren said that crypto firms are sabotaging Congressional efforts to study the role of cryptocurrencies in terrorism financing by hiring former government employees.

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