Blockchain Association Challenges Senator Warren’s Criticism of Crypto Employment

The Blockchain Association – a leading non-profit organization that supports the digital asset economy and environment – has responded to US Senator Elizabeth Warren's criticism of government-related employees in the crypto industry.

On January 9, the CEO of the Blockchain Association, Christine Smith, published an open letter addressed to Warren, urging her to cooperate with government officials on issues 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 December 18, 2023 letter.

In December, Warren sent a letter to advocacy groups, including the Blockchain Association and the Coin Center, arguing that many government officials could lay the groundwork for “auditing” public service jobs in the crypto industry.

She also cited reports that some entities in the crypto industry have “a small army of former defense, national security and law enforcement officials” dedicated to preventing the control of digital assets.

According to Smith's latest contact, the Blockchain Association is fortunate and proud to count many former military, national security and intelligence officers and law enforcement professionals among its ranks.

Related: Gary Gensler warns on crypto ahead of potential Bitcoin ETF approval

“After leaving government, these civil servants could have chosen from a wide range of highly desirable professional opportunities. But they were drawn to work in the growing digital assets industry because they valued freedom and innovation,” Smith said.

“We believe crypto values ​​are American values. Blockchain technology has demonstrated the potential to enhance financial inclusion. […] And offer new wealth-building opportunities outside of Wall Street.

Coin Center CEO Jerry Brito previously called Warren's letter unhelpful and a “bullying ad.” According to the executive, Warren said the public “deserves transparency,” but the implication of that view is that nonprofits “have no privacy from government intrusion.”

Massachusetts Senator Warren has emerged as a leading critic of digital assets in the US, supporting several initiatives aimed at the illicit use of crypto assets for money laundering and terrorist financing. Critics have previously opposed Warren and urged her to engage constructively on the topic of financial freedom.

In December 2023, major US crypto exchange Coinbase denied Warren's allegations that it had hired former government officials to obstruct the development of digital asset regulations.

Magazine: Legislators' fear and skepticism fuel proposed crypto regulations in the US.