Elizabeth Warren criticizes crypto industry for extensive recruitment of former national security officials

Senator Elizabeth Warren has strongly criticized the Blockchain Association’s strategy of leveraging ex-military and nationalist information professionals to power U.S. cryptocurrency policies. This contention arises from the Association’s caller Congressional correspondence, co-signed by galore erstwhile defence and quality officers, to code misconceptions astir crypto’s relation successful illicit finance.

The letter

In a letter to the Blockchain Association, Sen. Warren expressed interest implicit the crypto industry’s usage of erstwhile defense, nationalist security, and instrumentality enforcement officials. Citing reports, the Senator pointed to the industry’s strategy of employing these individuals to antagonistic bipartisan efforts successful Congress and the Biden Administration aimed astatine addressing cryptocurrency’s relation successful financing violent organizations specified arsenic Hamas.

The Senator’s missive references a recent report by Politico, highlighting the industry’s increasing reliance connected erstwhile authorities officials to navigate regulatory landscapes and power national policy. This attack is seen arsenic a means to hold oregon contradict caller rules that would bounds the usage of cryptocurrencies by terrorists and criminals.

Senator Warren’s missive besides raises ethical concerns astir the ‘revolving door’ signifier successful Washington, wherever erstwhile officials oregon politicians modulation to high-paying backstage assemblage roles aft leaving government. She called for transparency from the crypto firms regarding their usage of these practices and asked the Blockchain Association to supply elaborate accusation astir the employment of erstwhile authorities officials.

Response to the Senator

Kristin Smith, Chief Executive Officer of the Blockchain Association, responded to Senator Warren’s disapproval via a series of tweets connected Dec. 19.

Smith asserted that the Senator’s missive questions the engagement of erstwhile subject and instrumentality enforcement unit successful the crypto industry. She argued that the manufacture shares a communal American extremity of warring coercion and protecting nationalist security.

Smith emphasized the industry’s willingness to prosecute successful argumentation discussions and expressed disappointment successful Senator Warren’s approach, accusing her of attempting to discredit the manufacture and those moving towards a much inclusive fiscal system.

The station Elizabeth Warren criticizes crypto manufacture for extended recruitment of erstwhile nationalist information officials appeared archetypal connected CryptoSlate.