George Osborne, a former UK Chancellor of the Exchequer, has joined the advisory council of cryptocurrency exchange Coinbase (COIN).
Osborne, the U.K. chancellor from 2010 to 2016, is the second chancellor to join a cryptocurrency company. Philip Hammond, his direct successor, began serving as an adviser to Copper in October 2021 and later rose to the position of chairman of the custody firm.
The appointment demonstrates how crucial it is for cryptocurrency companies to rely on the experience of former regulators and lawmakers to help them navigate the frequently turbulent regulatory landscape. Former Senator Patrick Toomey (R-PA) and U.S. Secretary of Defence Dr. Mark T. Esper are also members of Coinbase’s advisory council. Based on a roster of existing members, Osborne would be the tenth member of the panel.
Osborne conducted the interview when Coinbase CEO Brian Armstrong hinted that the company would consider departing the United States in the event that the regulatory landscape in the nation did not improve.
With the acquisition of licences in France, Spain, Singapore, and Bermuda, Coinbase said in an email on Wednesday that Osborne joins the company at a moment when its global expansion is quickening.