Former US lawmakers Patrick Toomey, Tim Ryan, and Patrick Maloney will join Coinbase’s newly launched Global Advisory Board.
“The establishment of the Advisory Board is an important step for Coinbase amid an increasingly complex landscape in the United States and internationally,” the exchange said in a statement .
The announcement comes months after an investigation from the US regulator.
Toomey, Ryan, and Maloney all actively introduced crypto legislation during their time in Congress.
Toomey, who is on the Senate Banking Committee , introduced a bill regulating stablecoins last year.
Maloney, who served on the House Agriculture Committee , introduced a House version of the Digital Goods Consumer Protection Act, also known as DCCPA.
That bill , introduced last year, would give the Commodity Futures Trading Commission the authority to regulate “digital commodities.”
Ryan, along with House Financial Services Committee Chairman Patrick McHenry, introduced a bill in 2021 to clarify the cryptocurrency provision in the infrastructure bill.
Coinbase will also be mentored by Chris Lehane, chief strategy officer of venture capital firm Haun Ventures , and John Anzalone, founder of Impact Research Polling , the exchange said.
Coinbase has been embroiled in a battle with the US Securities and Exchange Commission for months.
The SEC sent Coinbase a “Wells notice” in March, threatening the crypto exchange with legal actions related to its Coinbase Earn staking service and other products.
SEC Chairman Gary Gensler has repeatedly said that most cryptocurrencies are securities while calling for crypto platforms to register with the agency.