Coinbase, the leading crypto exchange platform, has announced that it will be expanding its Global Advisory Council with the addition of four national security experts. The decision to appoint these experts aims to bring strategic insights and guidance to Coinbase’s executive leadership team. The new members joining the Council are Mark T. Esper, Stephanie Murphy (D-FL), Frances Townsend, and David Urban.
Coinbase highlights that the extensive national security expertise of these advisors will play a crucial role in assessing the potential consequences of regulatory uncertainty on the cryptocurrency industry in the United States. This evaluation will encompass both the long-term economic implications and the impact on national security.
Although none of the four new members have previously taken a public stance on cryptocurrencies, their impressive backgrounds guarantee invaluable perspectives. Mark T. Esper served as the U.S. Secretary of Defense under President Donald Trump, while Stephanie Murphy represented Florida’s 7th congressional district as a U.S. Representative. Frances Townsend held the position of Counterterrorism and Homeland Security Advisor to President George W. Bush and currently leads corporate affairs for gaming company Activision Blizzard. David Urban, on the other hand, is currently a managing director at consulting firm BRG Group and was a senior advisor to Donald Trump’s 2016 presidential campaign.
This move by Coinbase reinforces its commitment to addressing regulatory challenges and its dedication to strengthening its leadership team. Notably, Coinbase is engaged in a dispute with the U.S. Securities and Exchange Commission (SEC) regarding unregistered securities. Additionally, the company’s appeal pertaining to a case involving a $1.2 million Dogecoin sweepstakes offering in 2021 has been accepted by the Supreme Court.
Coinbase has actively sought involvement in crypto regulation efforts within the United States. In August, the Commodity Futures Trading Commission (CFTC) approved Coinbase’s registration as a futures commission merchant, allowing the platform to facilitate customers’ buying and selling of crypto futures. The creation of the Global Advisory Council earlier this year demonstrated Coinbase’s intentions to expand internationally amid regulatory obstacles in the U.S.
The four new additions to the council, alongside existing members such as former Ohio Senator Tim Ryan and former U.S. Representative Sean Patrick Maloney, underline Coinbase’s determination to navigate the regulatory landscape and solidify its position as a leader in the cryptocurrency industry.
