US Senator Elizabeth Warren is raising concerns about cryptocurrency companies like Coinbase (NASDAQ:) hiring former defense and national security officials. This follows reports that cryptocurrency was used to fund the October 7 Hamas attacks in Israel. Warren specifically questioned the role of individuals like Mark Esper, a member of Coinbase’s Global Advisory Council, and their potential influence on legislation aimed at preventing terrorist financing.
The cryptocurrency industry has responded to these concerns, defending its hiring practices as efforts to comply with regulatory rules rather than trying to lobby against regulation. Industry leaders, including Kristin Smith from the Blockchain Association and Kara Calvert at Coinbase, cite personal freedom and innovation as key reasons for their involvement in the industry. Jerry Brito from Coin Center continues to assert his right to lobby against laws that could be perceived as unfavorable.
Senator Warren remains steadfast in his call for stricter anti-money laundering measures in the cryptocurrency market. She is actively seeking bipartisan support and urging President Biden’s administration to address the issue of terrorist financing through digital currencies, especially in light of recent events.
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