Coinbase Hires Ex-Mayors To Bridge Crypto And Policy Divide

Zinger Key Points
  • Villaraigosa views cryptocurrency as a viable financial alternative for marginalized communities.
  • Bottoms emphasizes the importance of representation in the cryptocurrency industry for minority groups.

Coinbase Inc. COIN has made a significant addition to its Global Advisory Council by welcoming former Los Angeles Mayor Antonio Villaraigosa and former Atlanta Mayor and White House Senior Advisor Keisha Bottoms.

What Happened: These new appointments aim to leverage their political and policy-making expertise to advance Coinbase’s mission of promoting economic freedom worldwide.

Faryar Shirzad, Chief Policy Officer at Coinbase, expressed enthusiasm about the new members, stating they would play a crucial role in guiding the leadership team on strategic decisions impacting global economic policies.

This move aligns with Coinbase’s objective to build bridges between policymakers and the American populace, particularly focusing on the underbanked sectors.

According to statistics shared by Shirzad, 18% of Americans, including 25% of Black and Hispanic households, are underbanked, indicating a significant portion of the population that the traditional financial system fails to serve adequately.

Also Read: Hong Kong Spot Bitcoin ETFs Do Have A ‘Benefit,’ Bloomberg ETF Analyst Points Out

Villaraigosa highlighted the potential of cryptocurrencies as a promising alternative for communities historically facing racial discrimination in traditional banking sectors.

He emphasized the importance of crypto in facilitating remittances for people who support family members abroad.

Bottoms echoed these sentiments in remarks reported by The Atlanta Journal-Constitution, stressing the importance of representation communities traditionally excluded from financial innovations.

The strategic inclusion of such influential figures comes at a critical time when the intersection of digital assets and regulatory policies continues to garner significant attention.

Their insights are expected to be instrumental in shaping how Coinbase and similar entities navigate the complex regulatory landscapes while fostering inclusive financial ecosystems.

What’s Next: This initiative is particularly relevant to discussions at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

The event will likely explore similar themes of regulatory challenges and opportunities in the digital assets space, reflecting on how companies like Coinbase are pioneering efforts to integrate cryptocurrencies within a broader economic and social context.

Read Next: SEC Delays Decision On Bitcoin And Carbon Credit Futures ETF

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