Coinbase, a global leader in cryptocurrency exchange, announced on Tuesday that it supplemented the expertise of its global advisory council with four US national security experts. Reuters reported that Mark Esper, Stephanie Murphy, Frances Townsend, and David Urban joined the established Coinbase committee, which advises the executive leadership of the organisation.
Coinbase appoints national security experts on global advisory council
This move comes in the wake of acute regulator scrutiny of the cryptocurrency industry. Since the fall of FTX and the fraud trial of its founder, Sam Bankman-Fried, financial watchdogs worldwide brought cryptocurrency exchanges under the microscope.
The new appointees bring a wealth of collective experience to this council. Espers was a US defence secretary, and Murphy worked as a security specialist. Townsend, a former adviser to the White House, was part of counterterrorism and homeland security, and Urban was the managing director of the BRG Group.
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Coinbase believes these new appointments will help with insights into and guidance on how to navigate the uncertain cryptocurrency landscape in the United States. The company established its Global Advisory Council in May this year and aims to strengthen Coinbase’s position from a regulatory perspective to deliver secure and viable crypto asset trading.
When it announced the establishment of this council, Coinbase said:
Our new Advisory Council will play a key role in helping us work with regulators to achieve that goal, but this is just the start. We plan to expand the board this year with a bipartisan group of leaders with deep regulatory expertise. We’re honoured to have such distinguished leaders join our team and look forward to working together to shape the future of finance.
