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Home»ADOPTION NEWS»Senator Elizabeth Warren Expresses Opposition to Cryptocurrency Industry in New Letter on Government Hiring
ADOPTION NEWS

Senator Elizabeth Warren Expresses Opposition to Cryptocurrency Industry in New Letter on Government Hiring

By Crypto FlexsDecember 19, 20233 Mins Read
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Senator Elizabeth Warren Expresses Opposition to Cryptocurrency Industry in New Letter on Government Hiring
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Sen. Elizabeth Warren, D-Mass., sharpened her rhetoric against the cryptocurrency industry in a new letter to industry groups and the Coinbase exchange.

in letter Speaking to the Coin Center cryptocurrency advocacy group, she accused the industry group of “wielding an not-so-secret weapon” from former Department of Defense and law enforcement officials hired in an attempt to undermine congressional efforts to address cryptocurrencies’ role in financing terrorist groups. I did. Including Hamas.

“This revolving door of abuse is appalling and shows the cryptocurrency industry is spending millions of dollars to ensure its legitimacy while fighting stonewalled common-sense rules designed to limit the use of cryptocurrencies for terrorist financing,” Warren said on Coin Monday. “It will contribute to the interests of cryptocurrency companies,” he said in a letter to the center. Letters were also sent to the Blockchain Association and Coinbase. Politico.

Warren has been vocal about the possibility of using cryptocurrencies to fund terrorist organizations like Hamas, which attacked Israel in October. Warren, among other lawmakers, has often cited the report. From wall street journal Hamas along with other armed groups Cryptocurrency as a financial tool Ahead of the Israeli attack, the data in the article comes from Elliptic, a blockchain forensics company. misrepresented From pieces.

Coin Center Executive Director Jerry Brito back Back to Warren’s claims Tuesday about X, calling it a “bullying publicity stunt.”

“Engaging like-minded experts to oppose legislative proposals that they sincerely believe are unconstitutional and detrimental to the welfare of the nation does not amount to ‘undermining bipartisan efforts in Congress,’” Brito said. “Rather, freely associating and petitioning the government is an exercise of basic rights. “This is everyone’s right and no one should apologize.”

cryptocurrency lobby

Consumer advocacy group Public Citizen reported last year that cryptocurrency lobbying spending has nearly quadrupled since 2018, with the help of “revolving door lobbyists” including former Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission chairs and former department officials. It is said that there has been an increase. Department of Homeland Security and Department of Justice.

In her letter, Warren requested information about the number of former military or members of Congress currently working for the three cryptocurrency organizations and their responsibilities. Warren also asked whether the organizations have “a code of ethics that limits contact with current government officials in connection with future employment or restricts the activities of former government officials currently working for or on behalf of your organization.”

She wants an answer by Jan. 14.

Warren previously raised concern About cryptocurrency recruitment. In 2022, Warren and other lawmakers sent a letter to financial regulators asking how they plan to stop the revolving door between institutions and the cryptocurrency industry.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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