The Blockchain Association, a leading nonprofit organization advocating for the digital asset economy, has responded to Senator Elizabeth Warren’s concerns about government-related hires in the crypto industry. Kristin Smith, the CEO of the Blockchain Association, penned an open letter to Sen. Warren on January 9, inviting her to work together on issues such as the participation of government officials in the sector.
Smith, representing the Blockchain Association, extended an offer to partner with Sen. Warren to address the concerns she outlined in a letter dated December 18, 2023. In her letter, Sen. Warren expressed concern that numerous state officials might be using their public service roles to prepare for future positions in the crypto industry. She also highlighted reports of a “small army” of former defense, national security, and law enforcement officials within the crypto industry aimed at thwarting digital asset regulation.
In her recent communication, Smith stated that the Blockchain Association is proud to have many former military, national security, intelligence officers, and law enforcement professionals among its members. She emphasized that these individuals chose to work in the burgeoning digital asset industry after their government service because they value freedom and creativity. Smith further stated, “We believe crypto values are American values. Blockchain technology has the potential to enhance financial inclusion and provide new wealth-building opportunities outside of Wall Street.”
Meanwhile, Coin Center CEO Jerry Brito referred to Sen. Warren’s letter as “impertinent” and a “bullying publicity stunt.” He argued that while Sen. Warren advocates for public “transparency,” her stance implies that nonprofits should not expect privacy from government intrusion.
Sen. Warren, from Massachusetts, has become a vocal critic of digital assets in the United States, supporting several initiatives aimed at curbing the illicit use of crypto assets for money laundering and financing terrorism. Critics have previously urged Sen. Warren to constructively engage in discussions about financial freedom.
In December 2023, Coinbase, a major U.S. crypto exchange, refuted Sen. Warren’s allegations that it employed former government officials to hinder the advancement of digital asset regulations.
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Elizabeth Warren, Gary Gensler, Kristin Smith, Jerry Brito |
| Companies | Coinbase, Blockchain Association, Coin Center |
| Currencies | None |
| Securities | None |
