Coinbase Unveils a New Advisory Council Staffed with Former US Lawmakers
- Coinbase has announced a new “Global Advisory Council” that includes former US lawmakers, starting with five initial members.
- Former Congressmen Tim Ryan, Patrick Toomey, and Sean Patrick Maloney will join the Council along with Chris Lehane and John Anzalone.
- Lehane is the CSO of Haun Ventures, a crypto VC firm led by Katie Haun, and Anzalone is the founder of Impact Research Polling.
- The goal of the council is to help the crypto exchange “navigate the complex and evolving landscape of the crypto industry.”
- Coinbase also recently launched a new campaign urging crypto enthusiasts to demand regulatory clarity for the sector.
The regulatory landscape in the United States regarding digital assets continues to worsen as the Biden administration is not willing to give any incentive for people to hold cryptocurrencies. However, the gradual development of the digital space and the efforts of crypto companies to push for positive regulation of crypto assets are on the rise. As per a new turn of events, the largest crypto exchange in the US, Coinbase, has announced a new advisory council that includes some of the most prominent former US lawmakers and industry leaders as its members.
In a blog post dated May 12, Coinbase confirmed that the new Global Advisory Council will help the crypto exchange “navigate the complex and evolving landscape of the crypto industry, and strengthen relationships with strategic stakeholders around the world.”
Interestingly, the initial members of the Council include former US Senator Patrick Toomey, former Congressman Tim Ryan, the Chief Strategy Officer of Haun Ventures, Chris Lehane; former Congressman and American lawyer, Sean Patrick Maloney; and the founder of Impact Research Polling, John Anzalone.
“The Advisory Council will strengthen our efforts with stakeholders across the community as we seek to responsibly deploy crypto to help make the financial system more open, accessible, and fair, and make the case to stakeholders around the world that crypto and blockchain will usher in a new era of the internet based on decentralized protocols,” said the crypto exchange in the blog post.
Toomey, Maloney, and Ryan bring more than 40 total years of experience to the table, while Lehane and Anzalone bring industry statistics to the table.
It is also important to note that the Council will work together with the members of the Coinbase Asset Management Academic and Regulatory Advisory Council (formerly of One River Digital Asset Management), including the former Chair of the US Securities and Exchange Commission (SEC), Jay Clayton; Courtney Elwood, former General Counsel for the CIA; the former Chairman of the Council of Economic Advisers, Kevin Hassett; and the Senior Managing Director and member of the Executive Committee of Compass Lexecon, Jon Orszag.
The only publicly-listed crypto exchange in the US acquired One River Digital Asset Management (ORDAM) and renamed it Coinbase Digital Asset Management (CDAM) earlier this year, and the latter’s team was merged with the crypto exchange.
As reported earlier by BitcoinWisdom, Coinbase also recently launched a new campaign urging crypto enthusiasts to demand regulatory clarity for the rapidly-rising sector. The new campaign, called “Stand With Crypto,” debuted on April 25. While regulatory uncertainty in the United States continues to prevail, the exchange’s CEO, Brian Armstrong, has shown interest in expanding worldwide and possibly shifting operations to the UK.
“We chose to build in America because we want to be part of the solution and believe America would be best served by embracing the potential of crypto and blockchain technology. Our new Advisory Council will play a key role in helping us work with regulators to achieve that goal, but this is just the start. We plan to expand the board this year with a bipartisan group of leaders with deep regulatory expertise,” the crypto exchange said.