Cryptocurrency

Patrick

COIN

United

Cryptocurrency exchange Coinbase has enlisted the expertise of former U.K. Chancellor of the Exchequer, George Osborne, as part of its advisory council. This is a big step for Coinbase. They are trying to expand globally because they had some problems with rules and regulations in the <a href="https://news.todayq.com/us-court-releases-a-schedule-in-the-sec-versus-coinbase-lawsuit-plans-proceedings-till-october/" target="_blank" rel="noopener noreferrer nofollow">United States</a>. The Ex chancellor is Coinbase’s new advisor 
Osborne, who held the position of Chancellor from 2010 to 2016, follows in the footsteps of his successor, Philip Hammond, who joined Copper as an advisor in 2021. They know that these experienced individuals can help them navigate the complicated world of following the rules and regulations.
Coinbase’s advisory council already boasts notable figures such as Dr. Mark T. Esper, former U.S. Secretary of Defense, and former Senator Patrick Toomey (R-PA). This decision is crucial as Coinbase is actively spreading its services worldwide. They’ve got permission to operate in important places like France, Spain, Singapore, and Bermuda. It’s like they’re planning to be everywhere, not just sticking to one place’s rules.
Getting licenses in these various locations is part of Coinbase’s smart strategy. It means they’re not depending on one country’s rules. Instead, they’re making sure they can operate globally. This is important because rules about cryptocurrencies can vary a lot from one place to another. Is there any ulterior motive? 
He’s part of their advice team, and this fits with Coinbase wanting clearer rules about money things. The big boss of Coinbase, <a href="https://news.todayq.com/brian-armstrong-opposes-jp-morgan-ceos-bitcoin-criticism/" target="_blank" rel="noopener noreferrer nofollow">Brian Armstrong</a>, even said they might move away from the U.S. if the rules there stay confusing. Having Osborne on board shows that Coinbase is serious about talking to the people who make the rules to make things better for them.
Coinbase sent an email saying how important Osborne is, especially now that they’re growing in other countries. They got permission (licenses) to work in places like France, Spain, Singapore, and Bermuda. This is part of Coinbase’s plan to follow the rules everywhere they operate. Osborne being involved shows that they’re smart about talking to important people to make sure they can do their business without any big problems.
Having George Osborne, the former chancellor, on board is a big deal for Coinbase. His past job experience and understanding of how rules work can really help Coinbase figure out how to deal with different government regulations. By bringing Osborne in, Coinbase is showing that they want to work closely with important people, like policymakers, to talk about and understand the rules for crypto.
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Coinbase shifting focus from US? Ex-UK Chancellor joins COIN

Todayq News

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