Former British Chancellor of the Exchequer to advise crypto giant Coinbase

With this strategic recruitment, the American cryptocurrency platform intends to further develop internationally.

Former British Chancellor of the Exchequer George Osborne will join the advisory board of American cryptocurrency exchange Coinbase, which is focused on developing abroad.

The former Tory MP, aged 52, remains the UK’s youngest Chancellor of the Exchequer, having been appointed aged 38 in 2010. He held the post until 2016. Coinbase’s advisory board already included former Trump administration defense secretary Mark Esper, as well as former Republican Pennsylvania Senator Patrick Toomey.

George Osborne left the political world in 2017 to become notably the publisher of London’s Evening Standard, which he left in 2020.

“George brings his extensive experience in the economic world, journalism and public affairs,” commented Faryar Shirzad, head of the platform’s public affairs department, quoted in a press release published on Wednesday.

Coinbase, the first cryptocurrency exchange platform in the United States, wants to push its efforts abroad, where it is already present in more than 100 countries.

Registration with AMF

At the end of December, the company was registered with the French stock market regulator, the Financial Markets Authority (AMF). Coinbase’s diversification is taking place in markets more favorable to digital assets or with more advanced legislation than the United States, where the regulatory environment is still evolving.

In particular, the platform is the subject of a lawsuit by the US Securities and Exchange Commission, the SEC, which accuses it of failing to register with it.

“Blockchain is transforming financial markets and online transactions, and Coinbase is at the forefront of this development,” George Osborne was quoted as saying in the press release.

He was referring to cryptocurrency technology based on the blockchain, a theoretically unbreakable chain of transactions that theoretically preserves digital assets.

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