{"id":29442,"date":"2023-05-12T18:53:53","date_gmt":"2023-05-13T01:53:53","guid":{"rendered":"https:\/\/coinnetworknews.com\/coinbase-establishes-advisory-council-with-former-us-lawmakers\/"},"modified":"2023-05-12T18:53:53","modified_gmt":"2023-05-13T01:53:53","slug":"coinbase-establishes-advisory-council-with-former-us-lawmakers","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/coinbase-establishes-advisory-council-with-former-us-lawmakers\/","title":{"rendered":"Coinbase establishes advisory council with former US lawmakers"},"content":{"rendered":"

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Following some of its leadership team visiting the United Arab Emirates, crypto exchange Coinbase has announced the formation of an advisory council staffed with many former United States lawmakers and industry leaders<\/p>\n

In a May 12 blog post, Coinbase said<\/a> its Global Advisory Council would aim to navigate the \u201cincreasingly complex and evolving\u201d crypto landscape globally. Former Pennsylvania Senator Patrick Toomey, former Ohio Representative Tim Ryan, former New York Representative Sean Patrick Maloney, and other industry insiders will sit on the council and advise the company on crypto policies.<\/p>\n

According to Coinbase, the council currently consists of only five members, with plans to expand \u201cwith a bipartisan group of leaders with deep regulatory expertise.\u201d Former Securities and Exchange Commission (SEC) chair Jay Clayton sits on a different board for the exchange, advising the firm on regulatory policy.<\/p>\n

Related: <\/em><\/strong>\u2018US has left a vacuum that other countries are eager to fill\u2019: Coinbase<\/em><\/strong><\/a><\/p>\n

The announcement followed speculation by many that the U.S.-based crypto exchange could be considering moving its operations outside the country amid the lack of regulatory clarity. The exchange is currently in a legal battle with the SEC after receiving a Wells notice in March, prompting Coinbase to file a motion in an attempt to force the commission<\/a> to clarify its position on digital assets.<\/p>\n

\u201cWe chose to build in America because we want to be part of the solution and believe America would be best served by embracing the potential of crypto and blockchain technology,\u201d said the May 12 blog post.<\/p>\n

Coinbase launched its own global derivatives platform<\/a> in May, opening its services to users in more than 30 jurisdictions around the world. CEO Brian Armstrong and other executives also visited the United Arab Emirates<\/a> in May to test the potential of the region as a \u201cstrategic hub\u201d for its international operations.<\/p>\n

Magazine: <\/em><\/strong>Samsung\u2019s Bitcoin ETF, $700M bust, Coinbase exits Japan: Asia Express<\/em><\/strong><\/a><\/p>\n