Coinbase, a leading cryptocurrency exchange, announced on May 12 that it has established a Global Advisory Council. The new council is created to help Coinbase stay abreast of changing regulatory landscapes as it continues to expand its operations. The council will be composed of seasoned experts with extensive regulatory expertise.
The council will include Senator Patrick Toomey (R-PA), known for his advocacy of pro-crypto regulation and his criticism of SEC Chair Gary Gensler. Additionally, two former Congressmen, Tim Ryan and Sean Patrick Maloney, have joined the council. Chris Lehane, the Chief Strategy Officer of Haun Ventures, and John Anzalone, a messaging strategist and founder of Impact Research Polling, will also be part of the council.
The Global Advisory Council is expected to help Coinbase navigate complex and evolving regulatory landscapes within and outside the United States. Coinbase plans to add more board members later this year, including individuals with deep regulatory expertise from both sides of the political aisle.
The new council will work alongside Coinbase’s two other groups: the Asset Management Academic and the Regulatory Advisory Council. These groups include notable figures such as SEC Chair Jay Clayton and former CIA General Counsel Courtney Elwood, among others.
Coinbase’s regulatory goals remain broad, but the company is currently engaged in a legal battle with the SEC and has received a Wells notice from the regulator. The establishment of the Global Advisory Council is a step towards addressing these regulatory challenges and ensuring that Coinbase continues to operate within the boundaries of applicable laws and regulations.
In conclusion, the establishment of the Global Advisory Council by Coinbase is a significant move towards ensuring that the company stays ahead of regulatory challenges. By bringing together seasoned experts with extensive regulatory expertise, Coinbase is demonstrating its commitment to operating within the legal framework while expanding its operations.