Crypto-currency exchange Coinbase Global Inc. has announced the appointment of former UK Chancellor of the Exchequer George Osborne as an advisor, as it faces increasing regulatory pressure in the US.
Prominent politicians join Coinbase
Coinbase recruits George Osborne, former UK Finance Minister, to address regulatory challenges in the US. He joins other notable political figures on Coinbase’s Global Advisory Board, including former U.S. Senator Patrick Toomey, former U.S. Secretary of Defense Mark T. Esper and former U.S. Congressman Sean Patrick Maloney.
Osborne’s government experience at the service of Coinbase
George Osborne brings significant experience in governance and international affairs, having served as Chancellor from 2010 to 2016. He also advised BlackRock, the world’s largest asset management company, from 2017 to 2021. Osborne is enthusiastic about financial innovations, stating that Coinbase is at the forefront of these developments.
A trump card in the legal battle against the SEC
Osborne’s appointment could prove valuable for Coinbase, which was sued in June last year by the US Securities and Exchange Commission (SEC) for offering unregistered securities. The SEC also alleged that several tokens offered on the platform, including Solana, Cardano, Polygon, Filecoin, The Sandbox, Axie Infinity, Chiliz, Flow, Internet Computer, Near, Voyager Token, Dash and Nexo, were considered unregistered securities.
