• Three former US lawmakers will join Coinbase’s Global Advisory Council to guide its leadership team.
• The announcement comes a few months after a probe from a US regulator and as lawmakers are working on legislation to write rules for crypto.
• Coinbase CEO Brian Armstrong welcomed the council on Twitter.
Coinbase has recently launched a Global Advisory Council, which includes three former US lawmakers: Patrick Toomey (R-Pa.), Tim Ryan (D-Ohio) and Patrick Maloney (D-N.Y). The council is meant to provide guidance to Coinbase’s leadership team in navigating the increasingly complex and evolving blockchain and cryptocurrency landscape in the US and internationally.
Previous Involvement of Lawmakers
The three former congressional members have all taken steps toward introducing legislation related to cryptocurrencies during their time in office. Toomey, who was part of the Senate Banking Committee, proposed a bill regarding stablecoin regulation last year; Maloney, who was part of the House Agriculture Committee, introduced the Digital Commodities Consumer Protection Act; while Ryan worked alongside now Financial Services Committee Chair Patrick McHenry (R- N.C.) on an infrastructure bill that included provisions related to cryptos.
Additions to Council
In addition to these three political figures, Chris Lehane, chief strategy officer at venture capital firm Haun Ventures, and John Anzalone, founder of Impact Research Polling were also brought onto Coinbase’s Advisory Council for their expertise in regulation and financial services respectively.
Coinbase CEO Reception
Coinbase CEO Brian Armstrong expressed his enthusiasm towards this new development by welcoming all five members of the Advisory Council on Twitter. He noted that he hopes they will work together towards updating the financial system and getting regulatory clarity for crypto projects around the world.
The formation of this advisory council marks an important milestone for Coinbase as it continues its mission towards providing innovative financial services with greater regulatory certainty and clarity in mind – both domestically and abroad!