Former U.K. Chancellor of the Exchequer George Osborne has joined crypto exchange Coinbase's (COIN) advisory council.

Osborne, chancellor from 2010 to 2016, becomes the second former U.K. chancellor to join a crypto firm. His immediate successor, Philip Hammond, joined Copper as an adviser in October 2021 and subsequently became the custody company's chairman.

The appointment highlights the importance crypto firms are placing on the expertise of former policymakers and regulators in navigating the often choppy waters of compliance. Coinbase's advisory council also includes Dr. Mark T. Esper, former U.S. Secretary of Defense, and former Senator Patrick Toomey (R-PA). Osborne would become the 10th person on the panel, according to a list of current members.

Osborne was also the interviewer when Coinbase CEO Brian Armstrong last year suggested the firm could leave the U.S. if the country's regulatory environment did not become clearer.

Coinbase said Osborne joins the firm at a time when its international expansion is accelerating, having acquired licenses in France, Spain, Singapore and Bermuda, in an emailed announcement on Wednesday.

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