In a letter addressed to Sen. Elizabeth Warren, the Blockchain Association, an industry group representing the crypto community, pushed back against the senator’s claims that they were hiring former defense and law enforcement officials to undermine Congressional efforts. The association’s CEO, Kristin Smith, clarified that while they do not currently employ anyone with the mentioned credentials, they are proud to count many former military and intelligence officers among their membership.
The letter emphasized that these individuals chose to work in the digital asset industry because they value the core principles of freedom, creativity, individual sovereignty, and permissionless innovation. It highlighted their commitment to contributing positively to the emerging sector and dismissed any insinuation that their backgrounds compromise their integrity.
The Blockchain Association also criticized Sen. Warren’s legislative efforts to regulate the crypto industry. The senator previously reintroduced the Digital Asset Anti-Money Laundering Act, which seeks to extend regulatory requirements to various entities involved in cryptocurrency transactions. However, the association argued that applying strict regulations to individuals and users would come at a significant cost.
CEO Kristin Smith stated that the association and its members will continue to exercise their constitutional rights to petition the government and express their opinions freely on the matter. They firmly believe that responsible regulation should strike a balance between ensuring security and fostering innovation.
It is important to note that the Blockchain Association’s response comes amidst ongoing discussions surrounding the regulation of cryptocurrencies and the role they may play in funding illegal activities. While different perspectives exist on how to approach this issue, it is clear that stakeholders in the crypto industry are actively engaging with lawmakers and expressing their concerns and viewpoints.
The objective of this response from the Blockchain Association is to address Warren’s concerns directly, emphasizing the association’s commitment to contributing positively to the industry while advocating for responsible regulatory measures that protect individual freedoms and promote innovation.
The source of the article is from the blog dk1250.com