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Coinbase Forms Global Advisory Council with Former Lawmakers to Navigate Crypto Regulations

The Birth of a New Advisory Council

In a recent move reflecting its commitment to adapting to the shifting tides of the cryptocurrency industry, Coinbase has announced the establishment of its Global Advisory Council. This council, comprised of former lawmakers and industry experts, is designed to help guide the exchange through the increasingly complicated global crypto landscape.

Meet the Council Members

As of now, the council includes notable figures like:

  • Patrick Toomey – Former Senator from Pennsylvania
  • Tim Ryan – Former Representative from Ohio
  • Sean Patrick Maloney – Former Representative from New York

These individuals bring a wealth of knowledge and experience in regulatory matters, aiming to foster a better understanding of the evolving crypto environment.

Expanding the Council’s Reach

Coinbase has ambitious plans for the council, intending to broaden its composition by adding more members from both sides of the political aisle. The exchange believes a diverse group will enhance its ability to navigate the regulatory maze that currently envelops the crypto space.

Regulatory Challenges and Legal Battles

The backdrop of this announcement is a growing uncertainty around crypto regulations in the U.S. Coinbase has been embroiled in a legal dispute with the SEC, following a Wells notice issued in March. In response, Coinbase is pushing for regulatory clarity, arguing that it chose to build its platform in America precisely because it believes in the potential of cryptocurrency and blockchain technology.

International Expansion and Market Potential

Coinbase isn’t just focusing inward; it’s also looking outward. The launch of its global derivatives platform and recent visits by CEO Brian Armstrong to the United Arab Emirates signal its interest in establishing strategic international operations. With services now available in over 30 jurisdictions, Coinbase is testing the waters to enhance its global presence.

Embracing the Future of Crypto

In an age where clarity seems as elusive as a mirage, Coinbase is positioning itself as a proactive player in the crypto space. The formation of its Global Advisory Council is one step in a larger strategy to foster innovation while navigating the treacherous waters of regulation. As the company continues to advocate for a more favorable environment for cryptocurrency in the U.S., only time will tell if these efforts bear fruit.

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