Coinbase Gains Industry Stature with New Advisory Board Members

• Coinbase unveils a new global advisory council.
• The council is aimed at shaping the crypto regulatory framework in the US.
• The exchange touted the council as a significant step.

Coinbase has been quite vocal recently against US regulators. With the increased scrutiny of the crypto industry by the SEC, there has been regulatory uncertainty in the US. While crypto players have been demanding a fair game with clearer regulations, it seems to be a never-ending battle.

According to the latest reports, Coinbase is now collaborating with three former US lawmakers. The collaboration is aimed at helping the exchange shape the cryptocurrency landscape and also re-establish a better relationship with US regulators.

Coinbase considers this a significant step

Former Senator Patrick Toomey, R-Pa., and two former Democratic congresspeople, Tim Ryan and Sean Patrick Maloney, will be among the inaugural members of Coinbase’s Global Advisory Council. The exchange has also touted this council as a significant step to tackle US regulatory pressure.

Coinbase mentioned in the note:

“We 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.” “Our new Advisory Council will play a key role in helping us work with regulators to achieve that goal.”

According to the company’s statement, Coinbase’s new council will also collaborate directly with members of another Coinbase advisory board, consisting of former SEC Chair Jay Clayton and retired CIA General Counsel Courtney Elwood.