Coinbase Bolsters Crypto Regulatory Team with Trump Ally and Former Fed Officials

U.S. crypto exchange Coinbase has bolstered its regulatory approach by adding four experts from finance and politics to its Global Advisory Council. The new members include President Trump’s 2024 campaign co-manager Chris LaCivita, former Senator Kyrsten Sinema, former Federal Reserve Bank of New York President Bill Dudley, and former Inter-American Development Bank President Luis Alberto Moreno. Coinbase noted that these additions will help the exchange navigate "new political and regulatory realities" by leveraging their experience in politics and financial markets.

The quartet joins a list of political powerhouses already on Coinbase’s Global Advisory Council, including former Pennsylvania Senator Pat Toomey and former Florida Representative Stephanie Murphy. The move comes as President Donald Trump's return to the White House signals the possibility of more flexible regulations for the crypto industry. Digital asset proponents perceive pro-crypto policies as likely, but former Senator Sinema emphasized the need to rally behind industry leaders and intensify policy-making efforts.

In other news, the Utah House Committee has approved a Bitcoin bill, paving the way for state investment in digital assets. The legislation, which has passed a crucial hurdle, aims to enhance Utah's financial landscape and support innovation in the blockchain sector. As this bill progresses, its implications for the broader financial markets and local economy will be closely analyzed by industry experts.

Arizona has also made strides in crypto adoption by advancing a bill to create a Strategic Bitcoin Reserve. If enacted, this legislation would allow up to 10% of public funds to be allocated to virtual currencies. The bill has already cleared a major hurdle by passing the Arizona State Senate Finance Committee and now awaits review by the Senate Rules Committee before moving to the House of Representatives for further deliberation.

Experts believe that Arizona's move could trigger a domino effect, encouraging other states to follow suit in integrating digital assets into their financial policies. This development aligns with President Donald Trump's recent executive order directing the creation of a digital asset reserve, signaling a broader federal push toward blockchain integration. However, market sentiment remains divided, with only a 16% probability of Trump creating a Bitcoin reserve in his first 100 days, according to Polymarket data.