Coinbase Fires Back at Senator Elizabeth Warren — Says Accusations Are Unfounded

Nasdaq-listed crypto speech Coinbase has responded to U.S. Senator Elizabeth Warren’s accusations that it hires nationalist information veterans to reason her legislation. “Your assertion that Coinbase is attempting to undermine bipartisan authorities related to cryptocurrency is simply wrong. Your accusations are not lone unfounded but a willful misrepresentation of our intentions and efforts,” the crypto steadfast told Warren.

Coinbase’s Letter to Elizabeth Warren

Coinbase (Nasdaq: COIN) fired backmost astatine U.S. Senator Elizabeth Warren connected Friday, refuting her assertion that the cryptocurrency speech hired nationalist information veterans to combat bipartisan legislation.

In its missive dated Dec. 22 to Senator Warren, Coinbase wrote: “We received your missive dated December 18, 2023, concerning our attack to recruiting apical nationalist information experts successful our combat against violent financing.” Besides Coinbase, Senator Warren besides sent a akin letter to Coin Center Executive Director Jerry Brito and Blockchain Association CEO Kristin Smith.

Emphasizing its committedness to becoming “the astir trusted, secure, and reliable cryptocurrency institution globally,” Coinbase explained that it recruits top-tier endowment crossed each levels to execute this goal. The crypto steadfast stressed:

Your assertion that Coinbase is attempting to undermine bipartisan authorities related to cryptocurrency is simply wrong. Your accusations are not lone unfounded but a willful misrepresentation of our intentions and efforts.

“Coinbase has ever been, and volition proceed to be, an progressive protagonist of liable authorities and regularisation successful the cryptocurrency space. We judge successful fostering a harmless and compliant environment, which is integral to the maturation and stableness of the manufacture and has agelong been a hallmark of our company,” Coinbase stressed.

“We besides judge it is captious to America’s nationalist information that emerging and foundational technologies stay successful the U.S. America’s nonaccomplishment of enactment successful semiconductors and mobile telephone exertion earnestly undermined our nationalist security,” the speech added, noting:

Your efforts to thrust integer plus innovators offshore is apt to person akin consequences, peculiarly arsenic China is actively trying to bring integer plus innovators to Hong Kong and astir of the G20 are integrating integer assets and crypto into their fiscal systems.

Coinbase ended its missive by offering to supply Warren with “a broad briefing” connected its committedness to combating violent financing, and to little the legislator connected “the important steps different countries are taking to follow this technology.”

Warren is simply a vocal crypto skeptic. She is pushing for the Digital Asset Anti-Money Laundering Act, which immoderate described arsenic her efforts to prohibition crypto. There is presently a petition connected Change.org to halt this projected crypto ban.

What bash you deliberation astir Coinbase firing backmost astatine Senator Elizabeth Warren? Let america cognize successful the comments conception below.