Coinbase seeks new exec to debate with policymakers
Coinbase is in search of a brand new rent to handle the exchange’s bitter relationship with policymakers.
The United States-based crypto exchange goals to swell its authorized and compliance crew ranks. The firm is in search of greater than 350 new hires, with 24 job openings inside the authorized and compliance crew.
More particularly, Coinbase is seeking a brand new supervisor to supervise communications with U.S. policymakers. Along with a robust community in Washington D.C, Coinbase expects its new U.S. coverage communications supervisor, who would lead its media relations and strategic presence in crucial coverage debates, to have “excellent political judgment.”
Better communication with policymakers is likely to be an pressing requirement for Coinbase, which is reportedly at odds with the United States Securities and Exchange Commission (SEC) over its canned lending program. CEO Brian Armstrong tweeted that the SEC threatened to sue the exchange over Coinbase Lend.
Planned to supply 4% annual yield returns on deposits of the USD Coin (USDC) stablecoin, the SEC reportedly deemed the Lend program a safety. Two weeks later, the corporate introduced the abandonment of the yield program.
Related: SEC chair compares stablecoins to on line casino poker chips
Armstrong then complained that different crypto corporations on the market at the moment present related lending providers, stating:
“They refuse to tell us why they think it’s a security, and instead subpoena a bunch of records from us (we comply), demand testimony from our employees (we comply), and then tell us they will be suing us if we proceed to launch, with zero explanation as to why.”