Key takeaways:
- Kendrick Meek joined the council of crypto exchange Coinbase to discuss the regulatory environment surrounding digital assets.
- Meek argued in favor of digital assets because they present “new opportunities” to address the systemic problems that have beset “our financial system.”
In order to discuss the regulatory environment surrounding digital assets, Kendrick Meek, who once held the position of House Representative for Florida’s 17th congressional district, has joined the council of crypto exchange Coinbase.
Coinbase Chief Policy Officer Faryar Shirzad said on May 20 on X that Meek had joined the exchange’s Global Advisory Council as part of an initiative to update the system that oversees digital assets in the country.
The former congressman from Florida was a member of the Ways and Means Committee, which oversees taxation, during his tenure in the US House of Representatives from 2003 to 2011.
Meek argued in favor of digital assets because they present “new opportunities” to address the systemic problems that have beset “our financial system,” according to a report from The Hill. He will serve on the council alongside Pat Toomey, Tim Ryan, and Stephanie Murphy, among other former US politicians.
In order to handle the “increasingly complex and evolving” global crypto ecosystem, Coinbase launched the advisory council in May 2023. The US Securities and Exchange Commission (SEC) is now suing the company.
Coinbase is also participating in the 2024 election season with its Stand With Crypto campaign, which aims to persuade American citizens to back legislators focusing on crypto.
Recently, J. Christopher Giancarlo, the former head of the US Commodity Futures Trading Commission (CFTC), joined the board of directors of the crypto startup Paxos. Giancarlo served as a commissioner from 2013 to 2017 before taking on the role of chair of the CFTC in 2017. Paxos announced on May 14 that Giancarlo has joined its board of directors. The company’s goal is to create stablecoins and expand in regulated crypto markets.
