Coinbase Appoints Ex-Congressman Kendrick Meek Ahead of Upcoming House Crypto Legislation Vote

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  <p>Coinbase, the cryptocurrency trading behemoth, has exclusively informed The Hill of their newest appointee to the global advisory board, ex-Rep. Kendrick Meek (D-Fla.).</p>
  <p>This announcement precedes the House's impending vote on the much-discussed Financial Innovation and Technology for the 21st Century Act (FIT21).</p>
  <p>FIT21 proposes <a target="_blank" href="https://crsreports.congress.gov/product/pdf/IN/IN12223" rel="nofollow noopener" class="link rapid-noclick-resp">significant reforms</a> in the framework governing digital assets like cryptocurrencies. It notably considers the Commodity Future Trading Commission to oversee most cryptocurrencies, classifying them as commodities. After securing bipartisan backing in the House Agriculture and Financial Services committees in the previous summer, it now seeks the necessary Democratic support on the House floor <a target="_blank" href="https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409251" rel="nofollow noopener" class="link rapid-noclick-resp">in the coming weeks</a>.</p>
  <p>During his tenure from 2003 to 2011, Meek served the 17th Congressional District of Florida. He was not only a member of the House Ways and Means Committee, the Democratic Steering and Policy Committee, and the Congressional Black Caucus but also chaired the Congressional Black Caucus Foundation's board of directors.</p>
  <p>According to Coinbase, crypto ownership in the United States stands at approximately 52 million Americans, 41 percent of whom identify with diverse racial backgrounds.</p>
  <p>"Digital assets present new opportunities to remedy the compounded financial pressures of traditional systems and address their long-established flaws that have let down a significant number of Americans. The quest for a fair and inclusive financial landscape is especially critical for Black and Hispanic Americans, along with other marginalized groups," commented Meek.</p>
  <p>Meek is set to join an impressive lineup of Washington veterans on the advisory council.</p>
  <p>Just last <a target="_blank" href="http://thehill.com/business/4296443-coinbase-adds-mark-esper-crypto/" rel="nofollow noopener" class="link rapid-noclick-resp">November, the council welcomed</a> personalities such as ex-Defense Secretary Mark Esper and ex-Rep. Stephanie Murphy (D-Fla.), alongside other distinguished policymakers. The council, which began its operations in May of the prior year, initially included former legislators like Sen. Patrick Toomey (R-Pa.), as well as Representatives Tim Ryan (D-Ohio) and Sean Patrick Maloney (D-N.Y.), the latter having relinquished his position earlier in the year.</p>
  <p>"I eagerly anticipate contributing to the Council to bolster America's dominion in defining the trajectory of digital assets and embedding safeguards for at-risk communities," Meek expressed.</p>
  <p><em>Edit as of 4:18 p.m. EDT.</em></p>
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