A New Era for Coinbase
In a bold move to adapt to the shifting sands of the crypto world, Coinbase has unveiled the formation of its Global Advisory Council. This decision follows a high-profile visit by its leadership team to the United Arab Emirates, which seems to be becoming a hotbed for crypto-related initiatives.
Who’s Who on the Council?
The council is boasted to comprise former lawmakers and industry veterans, such as:
- Patrick Toomey, former Senator of Pennsylvania
- Tim Ryan, former Representative from Ohio
- Sean Patrick Maloney, former Representative from New York
This eclectic mix of former congressional figures and regulatory experts is designed to steer the exchange through what it describes as an “increasingly complex” landscape—a task easier said than done, especially when it comes to crypto.
Common Woes: Regulatory Hurdles
Coinbase’s initiative comes at a time of considerable uncertainty in the U.S., where the regulatory environment has left many crypto firms scratching their heads. A recent encounter with the SEC has only fueled speculation about whether Coinbase may look to relocate its operations overseas, where the regulatory climate may be more favorable.
Building Bridges, Not Walls
In a thoughtful blog post, Coinbase expressed its commitment to building within the U.S. They stated, “We chose to build in America because we want to be part of the solution.” Let’s hope they don’t have to come up with a new slogan soon that reads: “Welcome to Crypto, America—bring your own laws!”
Global Reach and Future Ventures
On a lighter note, Coinbase is not completely down in the dumps. They launched a global derivatives platform in May, extending their services to over 30 jurisdictions worldwide. CEO Brian Armstrong is clearly on the lookout for exciting opportunities, recently visiting the UAE, which he sees as a potential “strategic hub” for international operations.
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