Top US exchange Coinbase disputes Senator Elizabeth Warren’s claim that the company is undermining bipartisan legislation.
In a new thread on social media platform X, Coinbase chief policy officer Faryar Shirzad said say Warren’s claim that the company is hiring national security veterans as a means to combat bipartisan legislation makes no sense.
“We are very proud of our track record of rooting out illegal activity on our platform, and our close collaboration with law enforcement agencies in pursuing bad guys. Our success comes from hiring national security and law enforcement veterans who help us do everything we can to protect the American people.
Any suggestion that we hire these people to block legislation is ridiculous. In fact, Coinbase has consistently advocated for legislation like FIT21 (The Financial Innovation and Technology for the 21st Century Act) that would create clear rules for the industry and consumers here at home.”
According to Coinbase, Warren – a Democrat from Massachusetts – is making a mistake of “epic proportions” by driving crypto innovators out of the US.
“Retaining emerging and foundational technology in the US is a national security imperative, and its efforts to drive digital asset innovators abroad are a mistake of historic proportions.
We have learned from the examples of semiconductors and mobile phone technology how much damage it does to US national security if we give up innovation leadership, and we must ensure that we do not make the same mistake with digital assets.
As Coinbase states in an open letter to the senator:
“We are proud of our close collaboration with U.S. law enforcement agencies to prevent malicious actors from harming Americans. Your claim that Coinbase is trying to undermine bipartisan legislation regarding cryptocurrency is simply wrong. Your accusations are not only baseless, but also constitute a deliberate misrepresentation of our intentions and efforts.”
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