
US Senator Elizabeth Warren, known for her critical stance towards cryptocurrencies, continues her fight against the sector and intensifies her offensive against the Blockchain Association, a US organization that defends cryptocurrency companies.
According to the senator, the cryptocurrency market has recruited former military officers and national security experts to influence cryptocurrency policy in the United States. The move comes amid heated debates over the regulation of cryptocurrencies in the country.
Warren raised concerns about the industry’s recruitment of these professionals, questioning the ethics and transparency of the practice.
In her letter to the Blockchain Association, the senator emphasized the need to address the use of cryptocurrencies by organizations like Hamas, highlighting bipartisan efforts in Congress and the Biden administration to combat the financing of terrorist activities to combat.
“This revolving door abuse is appalling and reveals that the cryptocurrency industry is spending millions to give itself a semblance of legitimacy while fighting tooth and nail against common sense rules designed to limit the use of cryptocurrencies for terrorist purposes.”said the senator.
Senator wants to crack down on the use of cryptocurrencies in the US
A report from Politico noted the cryptocurrency industry’s growing dependence on former government officials, a trend Warren sees as a way to potentially delay strict regulations on the sector. According to her, this approach could facilitate the use of cryptocurrencies by criminals.
In addition, the senator raised questions about the practice of the “revolving door,” in which former government employees take lucrative positions in the private sector after leaving government.
Warren called on the Blockchain Association to be transparent about the employment of these former employees and provide detailed information about their roles.
In response to criticism, Kristin Smith, CEO of the Blockchain Association, defended the inclusion of former military and security professionals in the industry.
In a series of tweets published this Tuesday (19), Smith highlighted the industry’s commitment to combating terrorism and protecting national security. She expressed her disappointment in Warren’s allegations, accusing her of trying to discredit the industry and those seeking a more inclusive financial system.
“The industry is keen to get involved in political issues. Last month, we invited Senator Warren to our annual summit in DC – just a mile from her office – with a heartfelt invitation to speak directly to our industry. We hoped she would join us, but she didn’t. — he said to Smith.
4/ The industry is keen to engage with policy issues.
Last month, we invited Senator Warren to our annual Policy Summit in DC – just a mile from her office – with a heartfelt invitation to speak directly to our industry.
We hoped she would join us but she didn’t.…
— Kristin Smith (@KMSmithDC) December 19, 2023
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Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.