Crypto Advocacy Group Responds to Elizabeth Warren’s Allegations
Crypto advocacy group Blockchain Association has issued a response to a letter from Senator Elizabeth Warren, in which she accused the digital assets industry of undermining the government by recruiting former US lawmakers and officials. In her original letter, Warren referred to a report claiming that the Blockchain Association and others were building a “small army” to circumvent the Biden Administration’s efforts to address issues in the crypto space.
Ex-Government Officials Drawn to Crypto Industry
In their response, Blockchain Association CEO Kristin Smith explains that ex-government officials have chosen to work in the crypto industry because their values align with those of the industry. They value freedom, creativity, individual sovereignty, and permissionless innovation. The association believes that crypto values are American values and that blockchain technology can enhance financial inclusion and provide new wealth-building opportunities outside of Wall Street.
Crypto’s Potential to Address Concerns About Big Banks
Smith also addresses Warren’s concerns about big banks’ power over Americans. The association believes that crypto technology has the ability to disrupt or compete with these “Too Big To Fail” banks, which prioritize profits over people. They argue that crypto reflects and enhances fundamental values integral to the country.
Hot Take: Crypto Can Empower Individuals and Challenge Traditional Finance
The response from Blockchain Association highlights the alignment of values between ex-government officials and the crypto industry. By emphasizing freedom, creativity, and permissionless innovation, they position crypto as a force for positive change. Moreover, they argue that crypto technology can address concerns about big banks’ power by providing alternative financial solutions that prioritize individuals over profits. This response showcases how the crypto industry is actively working towards disrupting traditional finance and empowering individuals.
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