In a bid to strengthen its stakes in the shaping of US cryptocurrency policy, Coinbase, one of the largest digital currency exchanges, announced three new additions to the board of directors: Chris Lehane and Paul Clement.
The board has expanded to 10 members, with new members bringing valuable views into the company. Lehane will provide strategic counsel for Coinbase. Previously, he was chief policy officer for Airbnb and a staffer at the White House under Clinton. Clement, who has spent two decades in government and politics, will advise on how to “push back against the SEC’s overreach and fight for clear rules of the road for digital assets.”.
Davies brings her expertise in finance and operations to leading efforts on the firm’s overall financial and operational excellence globally. Together, the three new members will be critical in shaping the company’s approach to ensure it correctly navigates the complex US regulatory landscape.
Coinbase’s move comes as the industry of digital currency is gearing up to flex its muscle in this year’s presidential election. Stand With Crypto, an advocacy organization backed by the firm, has compiled significant numbers of 1.3 million voters owning digital currencies. Additionally, three pro-crypto super political action committees have so far raised over $230 million in funding for candidates who have held their support for the industry.
As the election season heats up, Coinbase’s board will grow to cater to advancing policies that benefit the industry. With Lehane’s background in the policy-making space, Clement’s deep understanding of the government, and Davies having an edge in finance, Coinbase is very well-positioned to be heard in Washington D.C.
