The Blockchain Association — a major nonprofit organization that supports the digital asset economy and environment — has responded to United States Senator Elizabeth Warren’s criticism of government-related hires in the crypto industry.
On Jan. 9, Blockchain Association CEO Kristin Smith published an open letter addressed to Warren, urging her to collaborate on issues like the involvement of government officials in the industry.
On behalf of the Blockchain Association, Smith offered the organization’s partnership to work with Warren on the issues she raised in a letter on Dec. 18, 2023.
In December, Warren sent letters to advocacy groups, including the Blockchain Association and Coin Center, arguing that many state officials could be laying the groundwork while in public service to “audition” for positions in the crypto industry.
She also cited reports that certain entities within the crypto industry had a “small army of former defense, national security, and law enforcement officials” aimed at preventing regulation of digital assets.
According to Smith’s latest communication, the Blockchain Association is fortunate and proud to count many former military, national security and intelligence officers and law enforcement professionals among its ranks.
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“After leaving government, these public servants could have chosen from myriad, well-deserved professional opportunities. But they were drawn to work in the emerging digital asset industry because they value freedom and creativity,” Smith said, adding:
“We believe crypto values are American values. Blockchain technology has demonstrated the potential to enhance financial inclusion [...] and provide new wealth-building opportunities outside of Wall Street.”
Coin Center CEO Jerry Brito previously referred to Warren’s letter as impertinent and a “bullying publicity stunt.” According to the exec, Warren says that the public “deserves transparency,” but the implication of that view is that nonprofits “deserve no privacy from government intrusion.”
Massachusetts Senator Warren has emerged as a major outspoken critic of digital assets in the U.S., backing multiple initiatives targeting illicit uses of crypto assets for money laundering and financing terrorism. Critics have previously challenged Warren, urging her to engage in the topic of financial freedom constructively.
In December 2023, major U.S. crypto exchange Coinbase denied Warren’s allegations that it employed former government officials to impede the progress of regulations for digital assets.
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