Coinbase fires back at Sen. Elizabeth Warren: Accusations are “simply wrong”
Coinbase has released a response to a letter from Senator Elizabeth Warren that accused the company of resisting regulation by hiring former government and law enforcement officials in a “revolving door” system.
In response, Coinbase condemned Warren’s accusations as “an intentional misrepresentation of our intentions and efforts,” adding that the people hired represent “top talent at every level” and that Coinbase is a “responsible leader in the cryptocurrency space.” claimed to support “regulation and legislation.”
In a letter published by Chief Policy Officer Faryar Shirzad, Coinbase praised its Global Advisory Council, which “provides us with important strategic insight and advice.” This Congress was initially called out specifically in Warren’s letter because it included several former elected officials, including Senator Patrick Toomey, Representative Tim Ryan, and Representative Sean Patrick Maloney.
Coinbase’s letter warned Warren about the potential impact of pushing cryptocurrency legislation overseas, comparing it to semiconductor and cell phone technology, perhaps referencing China’s lead in the global 5G race. Finally, the letter asked Warren for a “comprehensive briefing on our commitment to combating the financing of terrorism.”
Senator Warren’s office could not immediately be reached for comment.
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