Coinbase, a popular cryptocurrency exchange, has announced the formation of a Global Advisory Council. The company hopes that this council will assist them in navigating the increasingly complex regulatory landscape surrounding the cryptocurrency industry, both domestically and internationally.
The Council
The Global Advisory Council will include a number of high-profile members, including pro-crypto regulation Senator Patrick Toomey (R-PA), former Congressmen Tim Ryan and Sean Patrick Maloney, Chris Lehane, CSO of Haun Ventures, and messaging strategist John Anzalone. The group will work alongside Coinbase’s two other advisory groups, its Asset Management Academic and its Regulatory Advisory Council, which include former SEC chair Jay Clayton and former CIA General Counsel Courtney Elwood.
The company plans to add more board members from both sides of the political aisle, all of whom have “deep regulatory expertise,” later this year.
Coinbase’s Goals
Coinbase has not given specifics on their regulatory goals, but the company is currently involved in a legal battle with the U.S. Securities and Exchange Commission and has received a Wells notice from the regulator. The formation of the Global Advisory Council is a strategic move to help the company navigate the regulatory landscape while also building relationships with key lawmakers and regulators.
The company believes that the council will provide invaluable insights and guidance as they continue to expand their reach and influence in the cryptocurrency industry. By working with regulators and lawmakers, Coinbase hopes to establish itself as a leader in the industry while also ensuring that it remains compliant with all relevant regulations.