Coinbase has published a response to Sen. Elizabeth Warren’s letter accusing the company, among others, of resisting regulation by hiring former government and law enforcement officials in a “revolving door” system.
In its response, Coinbase slammed Warren’s accusations as “a willful misrepresentation of our intentions and efforts,” claiming the hires represent the “finest talent at every level” and that Coinbase supports “responsible regulation and legislation” in the cryptocurrency space.
In the letter, posted by chief policy offier Faryar Shirzad, Coinbase also praises its Global Advisory Council, “which provides us with critical strategic insight and advice.” The council was specifically called out by Warren in her letter, as it initially 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 effects of driving crypto legislation offshore, comparing it to semiconductor and mobile phone technology, perhaps referring to China’s lead in the worldwide 5G race. Finally, the letter invited Warren to “a comprehensive briefing on our commitment to combating terrorist financing.”
Sen. Warren’s office could not be immediately reached for comment.
