Crypto advocacy group Coin Center has responded to a strongly worded letter from Sen. Elizabeth Warren, D-Mass, who wanted to know how many former government officials the advocacy group had hired, supposedly to undermine legislative efforts. In its response, the group refused to answer her questions or back down from its work.
In December, Warren sent the letter in question to crypto exchange Coinbase and several industry groups, accusing them of “flexing a not-so secret weapon” of hiring former defense and law enforcement officials in an purported attempt to undermine Congressional efforts to address the alleged role of crypto in financing terrorist groups including Hamas.
“This abuse of the revolving door is appalling, revealing that the crypto industry is spending millions to give itself a veneer of legitimacy while fighting tooth and nail to stonewall common sense rules designed to restrict the use of crypto for terror financing – rules that could cut into crypto company profits,” Warren said in the letter to Coin Center.
Coin Center’s response
In its response, Coin Center began by stating that it had no obligation to answer her questions and refuting the notion that participation in public policy debates amounts to undermining Congressional efforts.
Coin Center claimed that bills Warren described as common sense rules are instead unfair, unworkable and unconstitutional. On this basis, it argued that it was right to oppose the bills and said that it makes no apologies for doing so.
Source: theblock.co
