Coinbase Names George Osborne to Spearhead Global Crypto Policy Push

Coinbase has appointed former UK Chancellor of the Exchequer George Osborne as the chair of its Global Advisory Council. The move marks the latest step in the company's broader strategy to expand its influence beyond the U.S. and shape global policy in the crypto space. Osborne, who previously served as a finance minister in the UK government, will work to connect Coinbase with policymakers around the world, particularly in Europe.

Osborne joined Coinbase as an adviser in January 2024 and will now play a more active role in guiding the firm's international policy efforts. He is based in London and will focus on promoting stablecoin payments, tokenised assets, and regulatory clarity in capital markets. Coinbase's chief policy officer, Faryar Shirzad, emphasized the need to build a stronger presence in global regulatory conversations.

The cryptocurrency industry has been a significant lobbying force in the U.S. in recent years. According to Federal Election Commission data, Coinbase and other crypto companies contributed more than $245 million to support pro-crypto candidates in the 2024 U.S. elections, including President Donald Trump. Following Trump's election, U.S. regulators have taken steps to support the industry, such as enacting new legislation for stablecoins and dropping major lawsuits against crypto companies.

Strategic Implications for Global Expansion

Osborne brings extensive experience in public policy and financial regulation, having served as UK Chancellor from 2010 until his departure after the 2016 Brexit referendum. His advisory work at Coinbase coincides with the firm's growing interest in international markets, particularly in the UK and the European Union. Shirzad noted that Coinbase's goal is to encourage more favorable regulatory conditions for blockchain technology and tokenised assets in global capital markets.

Osborne's role will include promoting the use of blockchain and stablecoins in financial systems, advocating for clearer tax policies, and supporting the development of tokenised assets. His involvement is expected to enhance Coinbase's credibility among global regulators and lawmakers, as well as increase the firm's ability to shape favorable policy outcomes.

Osborne's Broader Business Portfolio

In addition to his advisory work at Coinbase, Osborne has been involved in a wide range of private sector roles. He recently joined U.S. AI company OpenAI to support its overseas data center expansion. He also serves as the chair of the British Museum and is a partner at investment bank Robey Warshaw LLP. Additionally, he chairs asset manager Lingotto Investment Management, highlighting his deep engagement with financial and cultural institutions.

Osborne emphasized that his role at Coinbase is an opportunity to engage with the latest developments in blockchain and tokenisation. "Chairing the Global Advisory Council will give me more opportunity to learn about the revolution that blockchain, stablecoins and tokenisation are bringing to our financial system," he said in a written statement.

Political and Regulatory Context

The appointment comes amid a period of significant regulatory shifts in the U.S. and globally. The Trump administration has taken a more crypto-friendly stance compared to its predecessor, with several regulatory actions aimed at supporting the industry. These include the passage of new laws to facilitate stablecoin usage and the resolution of ongoing legal cases against crypto firms.

Despite these developments, the industry has faced criticism for what regulators see as a lack of oversight. Financial watchdogs have called for stronger regulatory frameworks, while crypto firms have argued that they have been unfairly targeted in recent years. Coinbase's expansion into policy advocacy, particularly through high-profile figures like Osborne, is seen as a strategic move to navigate these evolving regulatory landscapes.

Outlook for Coinbase's Global Strategy

Coinbase's expansion into international markets is part of a broader strategy to diversify its business beyond crypto trading. The firm has recently launched services such as stock trading and event contracts, aiming to compete more directly with traditional brokerages. Deutsche Bank, in a recent note, has highlighted Coinbase's potential to grow its revenue and reduce earnings volatility through product diversification.

In the UK, Coinbase aims to promote the adoption of stablecoin payments and tokenised assets in capital markets. It also seeks to address gaps in regulatory clarity, particularly around tax policies for digital assets. Shirzad noted that these efforts are aligned with the firm's broader vision to build a more inclusive and innovative financial system.