Coinbase Snags Senate Advisor as Lobbyist

The Bitcoin start-up Coinbase is bolstering its team as it seeks to deepen its engagement with regulators.

The company, one of the most popular digital wallet providers, has hired John Collins, a former adviser to the Senate Homeland Security and Government Affairs Committee, as its head of government affairs. Mr. Collins, who focused on digital currency, will work with lawmakers and public officials on policy decisions related to virtual money.

“Bitcoin is an extremely powerful technology,” said Fred Ehrsam, a co-founder of Coinbase. “As the leader in the space, our main goal is to educate people who are going to form the regulations around it in its formative years so its potential remains.”

Coinbase’s moves comes as Bitcoin start-ups have been uncertain of what potential regulations will be coming. In July, for example, New York became the first state to issue proposed rules for digital currency companies. The public comment period on the BitLicense regulations is set to end next week. Bitcoin has also attracted the attention of other prominent regulatory agencies, including the Securities and Exchange Commission and the Consumer Financial Protection Bureau.

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