Priya Patel
TLDR:
- Coinbase has hired former UK finance minister George Osborne as an advisor as the cryptocurrency exchange faces increased regulatory scrutiny in the US.
- Osborne joins other notable political figures on Coinbase’s Global Advisory Board, including former US Senator Patrick Toomey and former US Secretary of Defense Dr. Mark T. Esper.
Coinbase Global Inc., the cryptocurrency exchange, has appointed former UK Chancellor of the Exchequer George Osborne as an advisor, as the company faces mounting regulatory scrutiny in the United States. Coinbase has been sued by the US Securities and Exchange Commission (SEC) for offering unregistered securities. The SEC alleged that Coinbase failed to register as a broker, national securities exchange, or clearing agency, and also accused the exchange of offering unregistered securities. Osborne brings significant experience in government and international affairs, having served as Chancellor from 2010 to 2016. He also served as an advisor to BlackRock, the world’s largest asset manager, from 2017 to 2021. Coinbase has a 70% chance of full dismissal in the SEC lawsuit, according to Bloomberg senior litigation analyst Elliott Stein.
