The Blockchain Association, a significant nonprofit organization that supports the digital asset environment and economy, has responded to Senator Elizabeth Warren’s criticism of government-related hiring in the cryptocurrency industry.
CEO of the Blockchain Association Kristin Smith urged Warren to collaborate on matters such as the participation of government officials in the industry in an open letter published on January 9.
Smith, on behalf of the Blockchain Association, extended a partnership offer to Warren on December 18, 2023, in order to collaborate on the concerns she raised in a letter.
Warren argued in December letters to advocacy organizations such as the Blockchain Association and Coin Center that numerous state officials may have been “auditioning” for positions in the cryptocurrency industry while still in the public sector.
Additionally, she referenced reports that specific organizations operating in the cryptocurrency sector employed a “small army” of former officials from defense, national security, and law enforcement in an effort to obstruct the regulation of digital assets.
As per Smith’s most recent correspondence, the Blockchain Association is privileged and honored to have many former intelligence and military personnel, as well as law enforcement experts, as members.
“Thirty-one laudable professional opportunities would have been available to these former government employees upon their departure.” “However, their inclination towards the burgeoning digital asset sector stems from their appreciation for autonomy and innovation,” Smith further explained.
“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.”
Jerry Brito, the chief executive officer of Coin Center, had previously labeled Warren’s letter impertinent and a “bullying publicity stunt.” As per the executive’s assertion, Warren argues that while the public “deserves transparency,” nonprofit organizations “deserve no privacy from government intrusion.”
Senator Warren of Massachusetts has established herself as a prominent and vociferous adversary of digital assets in the United States, endorsing numerous endeavors targeting the illegitimate applications of crypto assets, such as money laundering and terrorism financing.
Warren has been subject to criticism in the past, with some encouraging her to approach the subject of financial freedom in a constructive manner.
Prominent U.S. cryptocurrency exchange Coinbase refuted Warren’s claims in December 2023 that it employed former government officials to obstruct the development of regulations for digital assets.