On Friday, Coinbase Inc. announced the appointment of former chief legal officer of Google, Milana McCullagh, as deputy general counsel for products and corporate law.
McCullagh, who worked at Google for more than 13 years, will work on product legal support in all Coinbase functions and help the company optimize regulatory compliance for new product launches.
McCullagh’s appointment is part of it Both from a Coinbase legal talent acquisition campaign that began last year, and from a wider movement in the industry where high profile lawyers are joining cryptocurrency companies.
Between August and October, Coinbase appointed the former General Counsel of Dyson Ltd. Katherine Minarik as Deputy General Litigation Counsel;; to the former Senior Counsel at Uber Technologies Inc. in London, Carly Nuzbach Lowery as Associate General Counsel; to Fenwick’s former lawyer, Jade Clemons as a business attorney; and the head of the supervisory department of CLS Group Holdings AG, Janice Payne as Director of Regulatory Compliance.
The plethora of hires could be part of Coinbase’s effort to allay regulatory fears potential investors might have on the eve of a potential IPO. The San Francisco-based company held discussions with law firms and investment banks about an IPO earlier this year.
In addition, these appointments coincide with the recent decision of the company to reduce discussions about “politics” and “society” at work, which resulted in 60 employees use the exit packages offered by the company.
Top legal dates are taking the crypto industry by storm
But still, Coinbase isn’t the only company looking to bring high profile lawyers into the crypto industry.
The Blokchain-based company was founded on October 8th OR (1) Labs Operating Corp. announced the appointment of former Goldman Sachs in-house attorney and Sang Joon Kim, associate of Kirkland Ellis LLP, as general counsel.
On October 7th, cryptocurrencies will be exchanged and custody Gemini Trust Co. LLC has named former Morgan Stanley Global Financial Crimes Legal Officer Andy Meehan as Chief Compliance Officer for the Asia Pacific region.
And last Wednesday the venture capital company Andreessen Horowitz announced the appointment of former New York Stock Exchange Director of Regulatory Affairs, Anthony Albanese, to deal with cryptocurrency regulatory issues.
These movements coincide with the steps taken by US regulators to legalize the cryptocurrency industry. Before, The United States Department of Justice issued official guidelines regulate the cryptocurrency market and enforce the country’s laws.
Erich Dylus, An aviation finance attorney for Vedder Price during the day and a member of LexDAO’s legal team at night, told Cointelegraph that eThese attitudes could be a sign that the legal world is recognizing the growing influence of crypto assets:
“Some attorneys are discovering an exciting frontier that needs legal advice in the ‘meat’ area. It speaks to the maturity of crypto and the related industries that these big names are making the leap to.