According to the Massachusetts senator, many government officials could be laying the groundwork while in public service to “audition” for positions in the crypto industry.
Massachusetts Senator Elizabeth Warren, an outspoken opponent of digital assets in the United States Congress, has called on crypto advocacy groups to answer questions regarding the industry’s use of former government officials and lawmakers.
In Dec. 18 letters to leadership at advocacy groups Coin Center and Blockchain Association, Sen. Warren cited a Politico report that certain entities within the crypto industry had a “small army of former defense, national security and law enforcement officials” aimed at stymieing regulation of digital assets. She reiterated claims that crypto was behind the financing of terrorist organizations, including Hamas — the group behind the Oct. 7 attack on Israel.
According to Sen. Warren, the revolving door between the crypto industry and Washington D.C. insiders suggested that many government officials could be laying the groundwork while in public service to “audition” for digital asset lobbying positions. She referenced crypto exchange Coinbase’s Global Advisory Council, which initially included former Senator Patrick Toomey, former Representative Tim Ryan, and former Representative Sean Patrick Maloney.
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