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LONDON (Reuters) – Former British Chancellor of the Exchequer George Osborne has joined Coinbase Global’s advisory board, the cryptocurrency industry said on Wednesday. The exchange is aiming for international growth amid US regulatory pressure.
Mr Osborne, 52, was Chancellor of the Exchequer from 2010 until he lost his job after the Brexit referendum in 2016. He then became a newspaper editor in London, is now a partner at boutique investment bank Robbie Warshaw, and is also director of the British Museum.
“There is a tremendous amount of exciting innovation happening in the financial sector right now,” Osborn said in a statement. “Blockchain is transforming financial markets and online transactions, and Coinbase is at the forefront of these developments.” Ta.
Faryar Shirzad, Coinbase’s chief policy officer, said the company will rely on Osborn for his “insight and experience in growing Coinbase around the world.”
Coinbase, the world’s largest publicly traded cryptocurrency exchange, has been sued by the Securities and Exchange Commission for violating regulations.
In June, the SEC announced that the company facilitated trading in at least 13 crypto tokens, including Solana, Cardano, and Polygon, which should have been registered as securities.
Coinbase argued that unlike stocks and bonds, crypto assets do not meet the definition of an investment contract, a position held by the majority of the crypto industry.
The company has asked a U.S. court to dismiss the lawsuit, and a judge is expected to hear arguments from both sides in January.
Coinbase has been expanding internationally, most recently in December securing several licenses to operate digital currency services in France, Spain, Singapore, Bermuda and other countries.
Founded in 2012, Coinbase went public in 2021 but has since lost more than half of its value.
(Reporting by Tommy Reggiori Wilkes; Editing by David Evans)
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