In
response to the heightened regulatory scrutiny surrounding the cryptocurrency
industry, Coinbase has announced the addition of four national security experts
to its global advisory council. The move underscores the industry’s growing
need for a deeper understanding of regulatory challenges, particularly in the
wake of the collapse of Sam Bankman-Fried’s FTX exchange.
The
new council members, Mark Esper, Stephanie Murphy, Frances Townsend, and David
Urban, will provide insights and guidance to Coinbase’s executive leadership
team. Esper, a former United States Defense Secretary, brings understanding of
security and government operations to the council. Murphy, a former national
security specialist for the defense department, contributes her expertise in
defense and national security matters.
Townsend,
who previously served as Counterterrorism and Homeland Security advisor to
former President George W. Bush, offers experience in addressing critical security
concerns. Urban, formerly a managing director at BRG Group, where he oversaw
corporate affairs for ByteDance, brings a comprehensive understanding of the
technology and corporate landscape.
Coinbase’s
decision to strengthen its advisory council with these experts underscores the
significance of addressing regulatory uncertainties in the crypto space. The
council will play a role in examining the potential consequences of regulatory
ambiguities, both in the short and long term, on the United States’ economic
and national security interests.
Coinbase strengthens its global advisory council https://t.co/jA8rOxGUmh pic.twitter.com/Q5ien2Ve5C
— Reuters (@Reuters) November 7, 2023
Coinbase
Selects Ireland as Primary Regulatory Hub amid US Challenges
Amid
tightening regulatory measures in the United States and growing uncertainty
about the future of the cryptocurrency market in the country, crypto exchange Coinbase
has made a strategic decision to establish its primary global regulatory hub in
Ireland, Finance Magnates reported.
As
Coinbase grapples with increasing regulatory challenges in the United States,
it has sought out alternatives to ensure its continued global presence and
compliance with evolving international regulations. The forthcoming
implementation of the European Union’s (EU) Markets in Crypto-Assets (MiCA)
regulations, slated to become effective at the end of the previous year.
By
securing a license from the Central Bank of Ireland, Coinbase aims to
leverage MiCA
regulations to…
