Coinbase hires form US lawmakers to fight regulatory hurdles

Coinbase exchange established a new council to feature former US politicians & lawmakers to tackle the regulatory challenges.

Coinbase is a US-based Nasdaq-listed crypto exchange. The services of this exchange are available in several countries, where crypto trading is not illegal. This exchange is among the top regulated crypto companies in the crypto sector. The empire of this exchange is very big, so big institutions also use Coinbase exchange to invest in cryptocurrencies.

On 12 May 2023, Coinbase Exchange published a blog post to announce the launch of the Global Advisory Council. With the new council, Exchange will feature dominant former US lawmakers. 

With the new council, Exchange aims to easily handle the regulatory challenges under the US jurisdiction & also outside of the US to run the crypto business smoothly. 

Exchange openly stated that recently surged unclear regulatory hurdles forced it to establish this new council.

“The creation of the Advisory Council is a significant step for Coinbase as we navigate an increasingly complex and evolving landscape in the US and internationally.”

The popular names that Coinbase announced for this council are Chris Lehane, the Chief Strategy Officer of crypto-focused venture capital firm Haun Ventures, and John Anzalone, a political strategist who founded Impact Polling Research. 

Coinbase vs SEC 

In Q1 2023, the majority of the top crypto exchanges faced legal hurdles with the US regulatory bodies. In particular, the United States Securities and Exchange Commission (SEC) initiated several enforcement actions against top regulated crypto exchanges over crypto staking services.

So far, the SEC body failed to impose any regulatory action against the Coinbase exchange but already sent a Wells notice over crypto staking services & nature of some crypto assets trading on the exchange. So here we can say that the SEC body may initiate charges against the Coinbase exchange.

Read Also: Crypto sector saw a year-on-year 78% decrease in VCs funding in Q1 2023 

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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