Coinbase lures UK’s George Osborne amid legal battle

abdelaziz Fathi

George Osborne, former UK Chancellor of the Exchequer, has been appointed as an advisor to Coinbase, bringing his extensive experience in government and international finance to America’ largest cryptocurrency exchange.

Coinbase

Osborne served as the UK’s Finance Minister from 2010 to 2016 and has since been involved in various roles, including a partnership at boutique investment bank Robey Warshaw. His experience also extends to media, having been the editor-in-chief of London’s Evening Standard newspaper post-government, and in financial advisory, with a tenure at the BlackRock Investment Institute from 2017 to 2021.

His appointment adds significant political and financial expertise to Coinbase’s Global Advisory Council, which already includes notable figures like former U.S. Secretary of Defense Dr. Mark T. Esper, former U.S. Senator Patrick Toomey, and others.

“We are pleased to have George join our council at an exciting time for us in the UK and globally. George brings with him a wealth of experience in business, journalism and government. We look forward to relying on his insights and experiences as we grow Coinbase around the world,” said Coinbase Chief Policy Officer Faryar Shirzad,

“There’s a huge amount of exciting innovation in finance right now. Blockchains are transforming financial markets and online transactions. Coinbase is at the frontier of these developments. I look forward to working with the team there as they build a new future in financial services,” Osborne added.

Coinbase has established this council to guide its global growth strategy, especially during a period marked by increased regulatory scrutiny. The California-based company has recently secured operating licenses in various regions including France, Spain, Singapore, and Bermuda, and expanded its reach to over 20 African countries. However, it faces regulatory challenges in the U.S., with the Securities and Exchange Commission suing the company for alleged securities law violations.

Coinbase has identified the UK as one of its fastest-growing markets, with research indicating that 22% of adults in the country own cryptocurrency. CEO Brian Armstrong, who previously spoke alongside Osborne at UK Fintech Week in 2023, has praised the UK’s efforts in creating a favorable regulatory environment for cryptocurrency.

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