News

Coinbase has appointed Scott Bauguess as VP for global regulatory policy

Updated: Jul 25, 2024

Published: Feb 15, 2022

Coinbase, the biggest cryptocurrency in the United States, has added the former deputy chief economist at the United States Securities and Exchange Commission (SEC), Scott Bauguess, as vice president for global regulatory policy. The firm also announced that it has plans to hire more than 2000 employees this year.

Coinbase adds Bauguess

Bauguess has spent years with the SEC and has a lot of experience when it comes to regulations, and he is currently the director for financial market regulation at the University of Texas' McCombs Business School. The new hire from Coinbase comes at a time when the entire crypto space is facing huge regulatory oversight with the passing of the Infrastructure Bill.

As per the report from Politico, Coinbase has already been offered "strategic support" by Bauguess for the policy framework for cryptocurrencies that the firm released months ago. In his proposal, Bauguess stated the formation of "a new, single regulator to police the rapidly growing digital assets sector," said the report.

Bauguess aims to lead the firm in a new direction that suits the SEC's laws but will also remain the part of McCombs as an adjunct professor. As per the crypto exchange, Bauguess will "use his extensive expertise to help Coinbase to engage with policymakers and to further our mission to increase economic freedom in the world."

2000 hires

As per a report from Cryptonary, Coinbase has revealed that the crypto exchange will be hiring around 2,000 employees in 2022 to capitalize on opportunities in Web 3. The firm added that it aims to expand in 2022 and "include products that host user-generated content like NFTs, and we are excited about our ambitious plans for the future of Coinbase Wallet enhancing security, ease of use, and accessibility." It seems that 2022 might be a great year for the crypto exchange, which has also been actively partnering with a number of firms recently.

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