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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Crypto Think Tank Rebels Against This US Senator, Here’s Why

Rubmar Garcia
Rubmar Garcia
1 year ago
3 mins read
Coin Cente

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On December 18, 2023, US Senator Elizabeth Warren sent three letters to the Coin Center Director Jerry Brito, Blockchain Association CEO Kristin Smith, and crypto exchange Coinbase. The senator set January 14, 2024, as the deadline for a response to her inquiries.

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In the letter addressed to Brito, Senator Warren voiced her concern over reports that his organization and “other crypto interests” were “flexing a not-so-secret weapon” by amassing what she considers a “small army” of former ex-government officials.

A “Patriotic” Response To “Unconstitutional” Demands, Crypto Think Tank Firesback

Coin Center, a non-profit think tank focusing on the policy issues faced by the crypto industry, sent the US Senator a response letter on January 15. The organization stated:

With respect, we have no obligation to answer these questions beyond the public disclosures we make under the law.

Coin Center affirms that it takes constitutional rights seriously and considers that “free speech and petitioning the government are fundamental rights protected by our constitution,” Warren’s letter “discourages participation in important public policy debates and chills these rights.”

Regarding its opposition to legislative proposals, such as the CANSEE Act and the Digital Asset Anti-Money Laundering Act, the letter cited Coin Center’s belief that they are “unfair, unworkable, and most importantly, unconstitutional” efforts, as well as a “waste” of time and energy that could be spent on reinforcing existing laws.

The organization believes that its “proper” and “patriotic” opposition to these legislative efforts for “unconstitutional and draconian” surveillance is being mistaken as “political bias” by the US Senator.

Coin Center: “The Abuse Of The Revolving Door”

Warren’s letter highlighted the “gaps” that allow former government officials to leave their positions and “cash in and go to work as lobbyists or advisers for private-sector industries with a keen interest in federal policy.”

The Senator inquired Coin Center’s Head about this gap, asking Brito to provide a list of former government officials employed by the crypto think tank and details about their responsibilities, economic compensation, and whether they had been contacted about employment before leaving their former position.

Per the list and details of former government officials currently employed by Coin Center, the organization “politely declines” to offer further answers but is open to a conversation with Senator Warren.

We welcome honest, respectful policy discussions and are happy to meet with you or your staff to discuss further.

Coin Center criticizes the senator for the existence of said gap, noting that “if a gap exists, it is in enforcement”, and calls out the lack of effort on “securing more funding for FinCEN, the FBI and DOJ’s crypto enforcement units, and the like.”

The organization affirms that its efforts to find solutions and support sound regulation for cryptocurrency businesses will continue, including Congress’ effort to address the role that cryptocurrencies play in financing terrorist organizations, as Coin Center believes that sound policymaking is only possible when “diverse voices and perspectives are welcome and engaged.”

The Coin Center Executive Director concluded:

As for bipartisanship, we are proud of the work we have done to find solutions that advance sound regulation for cryptocurrency businesses while preserving the freedom to innovate.

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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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