Coinbase political initiative features US lawmaker who admitted to ethics violations
United States-based cryptocurrency exchange Coinbase’s latest push advocating for crypto holders to “speak directly to lawmakers” featured a House of Representatives member who previously acknowledged 11 ethics violations.
As of Aug. 15, more than 54,000 individuals had signed on to Coinbase’s "Stand with Crypto Alliance" in an effort to engage with U.S. lawmakers at the federal level. The initiative allows users to view the “crypto sentiment” of members of the U.S. Senate and House of Representatives.
At the time of publication, the initiative’s landing page featured Sen. Elizabeth Warren and Rep. Brad Sherman as “strongly against” crypto policies, and Reps. Josh Gottheimer, Ritchie Torres and David Schweikert as “very supportive.” Warren has often suggested that crypto is linked to illicit activities, such as facilitating the fentanyl trade in China, while Torres called on the U.S. Securities and Exchange Commission (SEC) to limit its enforcement cases concerning crypto firms.
According to the Stand with Crypto information page, Schweikert has backed three pro-crypto bills during his time in office and made four statements referencing digital assets. The alliance included the disclaimer that “Members of Congress may have views you strongly agree or disagree with” but did not explicitly mention any non-crypto policy stances.
Earlier this week, bipartisan Blockchain Caucus co-chairs @RepTomEmmer @RepBillFoster @RepDarrenSoto and I, sent a letter to the House of Representatives concerning the Bipartisan Senate Infrastructure Bill being funded by our crypto currency industry. pic.twitter.com/duEHPzD5gu
In 2020, the House Ethics Committee fined Schweikert $50,000 for violations of campaign finance that broke House ethics rules.
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