Ex-chancellor Osborne joins Coinbase as advisor

Ex-chancellor Osborne joins Coinbase as advisor

Former UK Chancellor of the Exchequer George Osborne has joined the advisory council of cryptocurrency exchange Coinbase.

Osborne, who was chancellor between 2010 and 2016, joins the US giant as it looks to expand internationally and faces up to a host of regulatory challenges, including an SEC lawsuit claiming it has operated its crypto asset trading platform as an unregistered national securities exchange, broker and clearing agency.

Osborne was onstage as moderator last year when Coinbase CEO Brian Armstrong made headlines for suggesting the company could move its headquarters out of the US over regulatory frustrations.

Says the ex-chancellor: "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."

He joins a council that includes former US Secretary of Defense Mark Esper and former Senator Patrick Toomey.

Faryar Shirzad, chief policy officer, Coinbase, says: "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."

Last year, the man who replaced Osborne as chancellor, Philip Hammond, joined digital asset custody and trading startup Copper as chairman.

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