Former Chancellor of the Exchequer, Lord Philip Hammond of Runnymede, is Senior Advisor to the London-based digital asset custodian Copper.
According to an announcement by Copper, Lord Hammond’s appointment is effective immediately and the veteran will assist the company in providing all necessary valuable advice and suggestions on matters related to expanding into the eastern US and Asia.
Backed by steady growth over the past 18 months, Copper recently received $ 75 million in funding from private investors. Copper is trying to expand its reach to cover the institutional turmoil for. to tap into Cryptocurrencies.
“We are very pleased to have Lord Hammond on the Copper team. Over the past 18 months, Copper has grown exponentially and now serves over 400 institutional clients, ”said Dmitry Tokarev, Chief Executive Officer of Copper worldwide from our London headquarters. With Lord Hammond’s expertise adding to the strength of our team, we look forward to Copper growing and further enhancing the UK’s digital asset technology offering. “
Lord Hammond’s experience was most evident in the British Government when he served under Prime Ministers David Cameron and Theresa May. He was Chancellor of the Exchequer from 2016 to 2019, Foreign Minister from 2014 to 2016 and Minister of Defense from 2011 to 2014. During his tenure in these government positions, he understands trends and the impact of regulations, Everyone those in Copper as Senior Advisor.
The move to appoint former top government officials to the advisory boards of crypto companies is becoming more common today. Blockchain.News had previously reported that Jay Clayton, the former head of the US Securities and Exchange Commission (SEC) under President Donald Trump, was appointed one of the advisors to One River Digital Asset Management in March.
More dates like this could happen in the near future as cryptocurrency firms try to navigate the not-yet-friendly regulatory terrain in key crypto hotspots.
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