Coinbase sets up advisory council including US lawmakers, private strategists

Coinbase said May 12 that it established a Global Advisory Council intended to help it navigate the regulatory landscape.

The council will include Senator Patrick Toomey (R-PA), a lawmaker known for advancing pro-crypto regulation and criticizing SEC chair Gary Gensler.

The group will also feature two former Congressmen — Tim Ryan and Sean Patrick Maloney. It will additionally include Chris Lehane, CSO of Haun Ventures, and John Anzalone, a messaging strategist and founder of Impact Research Polling.

Coinbase said the new council would help the company work with regulators and allow it to “navigate an increasingly complex and evolving landscape” inside and outside the U.S.

The company said it plans to add more board members from both sides of the political aisle, all of whom have “deep regulatory expertise,” later this year.

The new council will work alongside Coinbase’s two other groups — its Asset Management Academic and its Regulatory Advisory Council. Those groups feature include SEC chair Jay Clayton and former CIA General Counsel Courtney Elwood, among others.

Though Coinbase only described its regulatory goals broadly, the company has received a Wells notice from U.S. Securities and Exchange Commission and is engaged in a legal battle with the regulator.

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