Cryptocurrency exchange Coinbase has added former UK Chancellor George Osbourne to its advisory board as it faces regulatory scrutiny.
Osborne, who headed UK financial policy under PM David Cameron, has joined the company’s Advisory Council, which was established to advise Coinbase on its global strategy as it grows.
Faryar Shirzad, Chief Policy Officer at Coinbase, said: “We are pleased to have George join our council at an exciting time for us in the UK and globally. George brings with him a wealth of experience in business, journalism and government. We look forward to relying on his insights and experiences as we grow Coinbase around the world.”
Osborne joins the firm amid global growth plans. This month, the cryptocurrency exchange announced plans to expand internationally, having secured licences in France, Spain, Singapore, and Bermuda.
The San Francisco-based fintech is also caught up with US regulators after the Securities and Exchange Commission (SEC) alleged it failed to register as a national securities exchange, with Coinbase’s petition to completely overhaul the US regulatory rules rejected at the end of last year.
Currently, the former UK Chancellor is a partner at Robey Warshaw LLP, a boutique investment bank, the President of the Northern Powerhouse Partnership, a not-for-profit organisation – he established with business and civic leaders to promote economic development in the North of England – and a visiting professor at Stanford’s Graduate School of Business.
However, Osbourne is most well known for his time in government from 2010 to 2016. As Chancellor, Osbourne had responsibility for the UK’s economic, budgetary and financial policies, announcing plans to position the country as a “global capital of fintech” in 2014.
As the latest addition to the Council, Osbourne will join Dr. Mark T. Esper, former US Secretary of Defense, former Senator Patrick Toomey, former US representative Stephanie Murphy, former Congressman Sean Patrick Maloney, Chief Strategy Officer at Haun Ventures Chris Lehane and Impact Research Polling founder, John Anzalone.
Commenting on the new role, Osbourne remarked: “There’s a huge amount of exciting innovation in 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.”
