Last Updated on May 13, 2023 by Bitfinsider
Coinbase, the cryptocurrency exchange embroiled in a legal battle with the Securities and Exchange Commission, is forming a new advisory board comprised of former U.S. politicians.
The Global Advisory Council, according to Coinbase, will “assist in navigating the complex and evolving landscape of the crypto industry, as well as strengthening relationships with strategic stakeholders around the world.”
Former U.S. Senator Patrick Toomey, as well as former U.S. Congressmen Tim Ryan and Sean Patrick Maloney, will be among the first members. Chris Lehane, a venture capitalist at Haun Ventures, and John Anzalone, the founder of Impact Research Polling, will also take part.
Coinbase has increased its attempts to combat what some worry is an increasingly unfriendly regulatory environment in the United States, with CEO Brian Armstrong investigating additional international development. Earlier this year, the exchange announced a grassroots project aiming at influencing “pro-crypto policy in all 435 Congressional Districts across the U.S.”
“We’re working to update financial systems and rules that were designed over 100 years ago, before computers even existed,” Coinbase stated on Friday. “We chose to build in America because we want to be a part of the solution and believe that America would be best served by embracing the potential of crypto and blockchain technology.”
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