George Osborne, a former UK Chancellor of the Exchequer, has become an advisor at Coinbase.
Having served as Chancellor from 2010 to 2016, the former Finance Minister provides decades of experience in both government and international finance. After leaving the government, Osborne held a brief position as the editor-in-chief of London’s Evening Standard newspaper. Currently, he is a partner in the boutique investment bank Robey Warshaw LLP. From 2017 to 2021, he also served as an advisor to the BlackRock Investment Institute.
Osborne joins a number of prominent politicians on Coinbase’s Global Advisory Council, including former US Senator Patrick Toomey, US Representative Stephanie Murphy, US Congressman Sean Patrick Maloney, and US Secretary of Defense Dr. Mark T. Esper.
“We are happy that George has joined our council at this exciting time for us both globally and in the UK,” said Faryar Shirzad, Chief Policy Officer of Coinbase, in a statement. George brings a plethora of business, journalistic, and political experience to the table. As we expand Coinbase globally, we are eager to draw on his wisdom and experiences.
During a period of regulatory scrutiny, Coinbase established the Advisory Council to provide guidance for its global growth strategy. The cryptocurrency exchange has extended access to its products to over 20 African countries and recently obtained licenses in France, Spain, Singapore, and Bermuda. Nonetheless, the California-based business has encountered legal obstacles domestically. Last year, the U.S. Securities and Exchange Commission filed a lawsuit against Coinbase, claiming :
UK-based cryptocurrency hub
As part of his plans for the UK to become a worldwide hub for web3, Prime Minister Rishi Sunak stated in June that he was eager to provide regulatory clarity around how cryptocurrency businesses should register and operate in the nation. However, in response to stringent new marketing regulations from the nation’s financial regulator, a number of cryptocurrency companies have chosen to halt operations or leave the UK market in recent months.
According to Coinbase’s study from the previous year, 22% of adults in the UK possess cryptocurrency, making it one of the fastest-growing markets in the company’s history. At UK Fintech Week in 2023, Coinbase CEO Brian Armstrong and Osborne discussed the UK’s role in establishing a friendly regulatory environment.
According to Osborne, “there’s a huge amount of exciting innovation in finance right now.” Online transactions and financial sectors are changing due to blockchain technology. At the forefront of these advancements is Coinbase. I’m excited to collaborate with the group there as they create a brand-new financial services future.