Osborne follows in the footsteps of his immediate successor, Philip Hammond, and two previous chancellors of the United Kingdom who have joined cryptocurrency firms.
George Osborne, a former British chancellor, is now a member of the advisory board for cryptocurrency exchange Coinbase (COIN).
After serving as chancellor from 2010 to 2016, Osborne is now the second high-ranking British official to join a cryptocurrency company. Philip Hammond, who succeeded him immediately, became chairman of Copper after joining the business in October 2021 as an advisor.
Appointing a former legislator or regulator is a sign of how crypto companies are relying on their knowledge to get them through the regulatory maze. Dr. Mark T. Esper, a former United States Secretary of Defense, and former Republican Senator Patrick Toomey are also members of Coinbase’s advisory board. As per the roster of present members, Osborne would join the panel as the tenth member.
Last year, Coinbase CEO Brian Armstrong told Osborne that the company would leave the United States if regulations were not clarified. Osborne was also the interviewer at the time.
In a Wednesday email statement, Coinbase noted that Osborne joins the business as it accelerates its international operations, having gained licenses in France, Spain, Singapore, and Bermuda.
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