Crypto Exchange Coinbase Adds Former UK Chancellor George Osborne to Advisory Council
Crypto exchange Coinbase has announced that former UK Chancellor of the Exchequer, George Osborne, has joined its Global Advisory Council. Coinbase praised Osborne’s extensive experience in government and finance, stating that his advice will be valuable as the exchange expands internationally. Coinbase Chief Policy Officer Faryar Shirzad expressed gratitude for Osborne’s counsel in a tweet. In a statement, Osborne expressed optimism for blockchain technology, noting its transformative potential in financial markets and online transactions.
Osborne Joins Distinguished Advisory Council
George Osborne joins other prominent figures on Coinbase’s Global Advisory Council, including former US Secretary of Defense Mark T. Esper and former Republican Senator Patrick Toomey. The addition of such high-profile individuals strengthens Coinbase’s reputation and aims to establish crypto within global regulatory frameworks.
Osborne’s Role as Chancellor of the Exchequer
The Chancellor of the Exchequer is responsible for the UK’s annual budget and sets inflation targets. During his term, Osborne implemented austerity measures to balance the budget, which included reducing housing and child benefits. He also lowered corporate taxes to stimulate business activity. Currently, Osborne serves as a partner at investment bank Robey Warshaw LLP.
Coinbase Expanding Internationally
While facing a lawsuit from the US Securities and Exchange Commission (SEC), Coinbase has acquired licenses in several countries worldwide, including France, Spain, Singapore, and Bermuda. CEO Brian Armstrong has suggested that Coinbase may consider investing more heavily abroad or even relocating if regulatory clarity does not emerge in the US. A recent court hearing indicated that Coinbase has strong arguments against the SEC’s case.
Hot Take: George Osborne Brings Valuable Expertise to Coinbase
With the addition of George Osborne to its Global Advisory Council, Coinbase gains the insights of a highly experienced political and financial leader. Osborne’s involvement signals Coinbase’s commitment to expanding its presence worldwide and navigating regulatory challenges. His optimism for blockchain technology aligns with Coinbase’s mission to transform financial markets and online transactions. As Coinbase faces legal battles and seeks to establish itself as a key player in the crypto industry, Osborne’s counsel will undoubtedly be valuable.
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