In a recent turn of events, the Blockchain Association has responded to Senator Elizabeth Warren’s letter accusing the association and other industry groups of undermining Congressional efforts to address crypto’s alleged role in terrorist financing. In her letter, Senator Warren claimed that the association was “flexing a not-so-secret weapon” by hiring former defense and law enforcement officials. However, the Blockchain Association has made it clear that it will not stand idly by while unsubstantiated claims are made.
CEO Kristin Smith of the Blockchain Association addressed the accusations in a response letter to Senator Warren. While pointing out that the association does not currently employ anyone named in the senator’s list, Smith emphasized that many former military, national security, intelligence officers, and law enforcement professionals are members of the organization. Smith also highlighted the fact that these individuals chose to work in the digital asset industry because they value freedom, sovereignty, and innovation.
Despite the association’s response, Senator Warren remains committed to her anti-crypto stance. She recently proposed the Digital Asset Anti-Money Laundering Act, a bill that aims to tighten regulations and oversight on the cryptocurrency industry. The bill has gained support from Democratic senators, raising concerns among opposition voices that it may hinder crypto innovation in the United States and drive it offshore.
It is important to note that the information provided in this article is for informational purposes only and should not be considered as legal, tax, investment, financial, or other advice. The Blockchain Association’s response to Senator Warren’s accusations showcases the industry’s determination to counter unwarranted claims and protect the growth and development of the digital asset sector.
The source of the article is from the blog papodemusica.com