Warren criticizes new hires from cryptocurrency firms
Senator Elizabeth Warren takes issue with cryptocurrencies again, this time criticizing the new "government" hires of companies like Coinbase USA: Warren criticizes new hires by crypto companies Warren again against crypto companies
Warren again against crypto companies
Elizabeth Warren, Democratic US senator, has once again accused the crypto sector of acting against the government's attempts to fight crimes such as money laundering, terrorist financing and evasion of sanctions on foreign countries.
The aspect analyzed by Warren in this round, however, highlights a new element, namely the fact that crypto companies are gradually hiring more and more personalities linked to US institutions, to "clean up" the image of the sector and limit Congressional action.
“This 'revolving door' within crypto industry groups, involving figures from defense, law enforcement and Congress itself, reveals how crypto companies are spending millions to give themselves a veneer of legitimacy,” we read, for example, in a letter from Warren sent to the Coin Center company. All this, "while she fights tooth and nail the common sense rules designed to limit the use of cryptocurrencies for terrorist financing."
A problem of seats
The controversy around terrorist financing has revived especially following the outbreak of the conflict between Israel and Hamas, but in every report that has tried to give a measure of the involvement of cryptocurrencies, such as the Wall Street Journal one, the figures have always often been misrepresented. On the contrary, several CEX immediately collaborated with the security authorities to resolve the problem.
Indeed, Warren appears to have asked for sensitive information on how many former military or members of Congress currently work at companies like Coinbase, to understand their roles and responsibilities, while at the same time asking whether or not they have a code of ethics "to limit the activities of former government employees”.
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