Coinbase revealed the formation of an advisory council made up of former US lawmakers and prominent industry leaders, following a visit by some members of its management team to the United Arab Emirates.
In a recent blog post, Coinbase announced the creation of the Global Advisory Council, whose primary goal is to navigate the increasingly complex and ever-changing global cryptocurrency landscape. The council will include the participation of prominent former legislators such as Patrick Toomey, former senator from Pennsylvania; Tim Ryan, former representative from Ohio; Sean Patrick Maloney, former representative from New York; as well as other industry experts.
The exchange reaffirmed its full commitment to the US market, according to its CEO. The council currently has five members, but there are plans to expand it with a bipartisan group of leaders with extensive regulatory experience. It is important to mention that former Securities and Exchange Commission (SEC) Chairman Jay Clayton is also on another Coinbase advisory board, which provides regulatory policy guidance.
This announcement comes after speculation arose that Coinbase might consider moving its operations outside of the United States due to a lack of regulatory clarity. The company is currently in the midst of a legal dispute with the SEC after receiving a Notice from Wells in March. In response, the company filed a motion for the commission to clarify its position on digital assets.
K. Tovar
Source: Cointelegraph
(Reference image source: Kelly Sikkema, Unsplash)
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