Crypto Think Tank Rebels Against This US Senator, Here’s Why
17 Januar 2024 - 2:00AM
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On December 18, 2023, US Senator Elizabeth Warren sent three
letters to the Coin Center Director Jerry Brito, Blockchain
Association CEO Kristin Smith, and crypto exchange Coinbase. The
senator set January 14, 2024, as the deadline for a response to her
inquiries. Related Reading: Crypto-Terrorism Concerns? Senator
Warren And 100 Lawmakers Push Biden For Swift Response In the
letter addressed to Brito, Senator Warren voiced her concern over
reports that his organization and “other crypto interests” were
“flexing a not-so-secret weapon” by amassing what she considers a
“small army” of former ex-government officials. A “Patriotic”
Response To “Unconstitutional” Demands, Crypto Think Tank Firesback
Coin Center, a non-profit think tank focusing on the policy issues
faced by the crypto industry, sent the US Senator a response letter
on January 15. The organization stated: With respect, we have no
obligation to answer these questions beyond the public disclosures
we make under the law. Coin Center affirms that it takes
constitutional rights seriously and considers that “free speech and
petitioning the government are fundamental rights protected by our
constitution,” Warren’s letter “discourages participation in
important public policy debates and chills these rights.” Regarding
its opposition to legislative proposals, such as the CANSEE Act and
the Digital Asset Anti-Money Laundering Act, the letter cited Coin
Center’s belief that they are “unfair, unworkable, and most
importantly, unconstitutional” efforts, as well as a “waste” of
time and energy that could be spent on reinforcing existing laws.
The organization believes that its “proper” and “patriotic”
opposition to these legislative efforts for “unconstitutional and
draconian” surveillance is being mistaken as “political bias” by
the US Senator. Coin Center: “The Abuse Of The Revolving Door”
Warren’s letter highlighted the “gaps” that allow former government
officials to leave their positions and “cash in and go to work as
lobbyists or advisers for private-sector industries with a keen
interest in federal policy.” The Senator inquired Coin Center’s
Head about this gap, asking Brito to provide a list of former
government officials employed by the crypto think tank and details
about their responsibilities, economic compensation, and whether
they had been contacted about employment before leaving their
former position. Per the list and details of former government
officials currently employed by Coin Center, the organization
“politely declines” to offer further answers but is open to a
conversation with Senator Warren. We welcome honest, respectful
policy discussions and are happy to meet with you or your staff to
discuss further. Coin Center criticizes the senator for the
existence of said gap, noting that “if a gap exists, it is in
enforcement”, and calls out the lack of effort on “securing more
funding for FinCEN, the FBI and DOJ’s crypto enforcement units, and
the like.” The organization affirms that its efforts to find
solutions and support sound regulation for cryptocurrency
businesses will continue, including Congress’ effort to address the
role that cryptocurrencies play in financing terrorist
organizations, as Coin Center believes that sound policymaking is
only possible when “diverse voices and perspectives are welcome and
engaged.” The Coin Center Executive Director concluded: As for
bipartisanship, we are proud of the work we have done to find
solutions that advance sound regulation for cryptocurrency
businesses while preserving the freedom to innovate. Related
Reading: Arkansas Senator Calls For Reversal Of Controversial New
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