Former UK Chancellor of the Exchequer joins Coinbase as an advisor

Coinbase, the largest US crypto exchange, recently appointed a new advisor — the former UK Chancellor of the Exchequer, George Osborne. Osborne commands an extensive experience in terms of government and international finance, which Coinbase hopes to use to its advantage.

Osborne has been the UK’s Finance Minister for six years, between 2010 and 2016. Apart from that, he has been involved with a variety of other roles in the country, such as a partnership at a boutique investment bank, Robey Warshaw.

He also spent time serving as an editor.in-chief at London’s newspaper, the Evening Standard, which was something he did after completing his role in the UK government, so he has plenty of experience when it comes to media. Finally, Osborne also served at the BlackRock Investment Institute between 2017 and 2021.

By becoming the new advisor at Coinbase, Osborne will add considerable financial and political expertise to the exchange’s Global Advisory Council. The council is already made up of many notable figures, including the former US Senator Patrick Toomey, the former US Secretary of Defense Dr. Mark T. Esper, and others.

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The exchange’s Chief Policy Officer, Faryar Shirzad, commented on Osborne’s appointment, stating that Coinbase is very pleased to have him join the council. Shirzad noted that the appointment came at a very exciting time in the UK, US, and the rest of the world.

Commenting on the importance of Osborne’s decision to join, Shirzad pointed out that he brings a wealth of experience in various areas, including journalism, business, finance, and government. His insights will, therefore, prove invaluable in helping Coinbase grow around the world.

Furthermore, given the problems that the exchange has seen with the local regulators — primarily the US Securities and Exchange Commission (SEC), Osborne’s experience and expertise may help provide guidance even on the platform’s home field.

Osborne himself commented on the new development, stating that there is a huge amount of exciting innovation in the world of 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 noted.

Challenges of expansion during the period of regulatory scrutiny

Coinbase’s council was established to help guide the exchange’s efforts at achieving global growth. Coinbase has always had the ambition to expand around the world, as well as improve its service and conquer each market, or at least capture as much of the market share as possible.

Using the expertise of its members, and the council as a whole, is now more important than ever, due to the period of increased regulatory scrutiny. While Coinbase is fighting domestic battles in the US, it has also managed to achieve quite a lot of progress in obtaining foreign licenses, including regions such as France, Singapore, Spain, and Bermuda. It also reached over 20 new African countries.