Coin Center Responds to Senator Warren's Concerns About Hiring Former Government Officials

Coin Center, a leading voice in the cryptocurrency industry, has addressed Senator Elizabeth Warren's recent criticisms concerning the hiring of former government officials. The senator expressed her dismay over the alleged practice of cryptocurrency exchanges like Coinbase hiring ex-government officials, accusing them of undermining bipartisan efforts in Congress and the Biden administration by supporting cryptocurrencies linked to terrorist financing.

In a letter sent to Coinbase, Blockchain Association, and Coin Center on December 18th, Senator Warren called the practice of hiring former government officials "appalling." She claimed that these individuals "work on your behalf to undermine bipartisan efforts in Congress and the Biden administration to expose the role of cryptocurrency in financing Hamas and other terrorist organizations."

However, Senator Warren acknowledged that the hiring practice she criticized is entirely legal. She highlighted significant gaps in national ethics laws that allow former government officials, including those from national security backgrounds, to leave their positions of public trust and quickly transition into roles as lobbyists or advisors in private sector industries with strong interests in federal policy.

Upon receiving Senator Warren's letter, Jerry Brito, the Executive Director of Coin Center, characterized it as a "threatening publicity stunt." Similar to Coinbase and Blockchain Association, Coin Center refused to respond to Warren's questions regarding their hiring policies, citing their constitutional rights to protect the organization's information and their commitment to upholding the rule of law.

Brito emphasized the importance of mutual dedication to the rule of law and long-standing norms of civility, respectful debates, and compromise in their constitutional republic. He concluded, "We respectfully decline to provide further answers to your inquiries."

The cryptocurrency industry, as well as Senator Roger Marshall, co-author of the Anti-Money Laundering Act for Digital Assets, criticized Senator Warren and her colleague for seeking assistance from the American Bankers Association's lobbying group in drafting legislation. This legislation is one of the two bipartisan bills that Senator Warren claims are undermining the recipients of her letters.