Coinbase council gains 4 to tackle regulatory uncertainty

Coinbase has added four Washington, D.C., heavyweights to examine what ‘consequences will result from regulatory uncertainty.’

Crypto exchange Coinbase has included four national security experts in its Global Advisory Council as regulatory uncertainty in the U.S. looms.

According to the exchange’s blog announcement on Nov. 7, Trump administration defense secretary Mark Esper and former Rep. Stephanie Murphy are among the new members of the council. Ex-Bush homeland security adviser Frances Townsend and ex-Trump campaign adviser David Urban have also joined the group.

The advisory body will examine “what consequences will result from regulatory uncertainty” for the crypto industry in the U.S., including the long-term “economic and national security impacts.”

The exchange hopes the addition will provide Coinbase’s executive team with “strategic insights” as the U.S. is at “unique risk of losing its leadership position across a wide variety of sectors.”

U.S. crypto poll

In late October 2023, Coinbase published a report co-created with Bovitz and Morning Consult outlining the troubled financial environment in the U.S. According to the exchange’s findings, less than 10% of Americans are happy with the nation’s financial system as younger generations become “more pressured financially and more disillusioned by the system.”

Most Americans appear unsatisfied with the existing financial system, as only 7% of respondents said the system “works very well for people like them.”

Coinbase noted in the report that more than half of its respondents are likely to vote for crypto-friendly candidates in the 2024 presidential election. However, a regulation made by enforcement approach in the U.S. is leading the country to a “disappointing trend for crypto development,” Coinbase concluded.

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