Jerry Brito Refutes Senator Warren’s Claim in Letter
Jerry Brito, the executive director of Coin Center, has responded to Senator Elizabeth Warren’s accusations in a letter. Brito asserts that Coin Center does not hire former government personnel with malicious intentions and is not obligated to answer questions beyond what is publicly disclosed.
Coin Center Director Disputes Allegations
In his letter to Warren, Brito denies allegations that Coin Center is undermining government authorities. He also argues that Warren’s proposed laws regarding digital assets are complex and hinder the crypto industry as a whole.
Resistance to AML Laws
The crypto industry has been resistant to Warren’s Anti-Money Laundering (AML) laws. However, an increasing number of government officials are endorsing the legislation. Last month, five additional US Senators expressed their support for Warren’s AML laws.
Coin Center Advocates for Sound Regulation
Brito maintains that Coin Center continues to advocate for sound regulation within the cryptocurrency industry. He states that the organization is proud of its work in finding solutions that advance regulation while preserving innovation.
Senator Warren Criticizes Crypto Industry
Senator Warren has been critical of the crypto industry, claiming that companies engage with government officials during their tenure and potentially offer them jobs afterward. She discourages the hiring of former government officials for crypto advocacy in their push for regulations.
Accusations of Leveraging Former Government Officials
Warren alleges that the crypto industry has been leveraging former government officials and cites examples involving Coinbase and the Blockchain Association. She claims that these tactics are aimed at resisting new regulations.
Hot Take: Coin Center Defends Itself Against Accusations
Jerry Brito, the executive director of Coin Center, has responded to Senator Elizabeth Warren’s allegations that the organization hires former government personnel with malicious intentions. Brito asserts that Coin Center is not obligated to answer questions beyond what is publicly disclosed. He also disputes Warren’s proposed laws concerning digital assets, stating that they are complicated and hinder the industry. Despite resistance from the crypto industry, an increasing number of government officials are endorsing Warren’s Anti-Money Laundering laws. Coin Center maintains its advocacy for sound regulation within the cryptocurrency industry while preserving innovation.
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