Director of Policy at Coinbase Disputes Warren’s Allegations
Coinbase has contested the accusations made by Senator Elizabeth Warren.
The company asserts that its hiring practices aim to promote responsible regulation of cryptocurrencies.
Coinbase warns against the negative effects of excessive regulation on innovation in the cryptocurrency sector.
The Response from Coinbase to the Accusations
Coinbase, one of the world’s leading cryptocurrency exchange platforms, has recently responded to Senator Elizabeth Warren’s allegations.
In an open letter, Faryar Shirzad, Director of Policy at Coinbase, has refuted Warren’s claims, labeling them as “simply false” and a misrepresentation of the company’s intentions.
“Your assertion that Coinbase is attempting to undermine bipartisan cryptocurrency legislation is simply false. Your accusations are not only unfounded but also a deliberate distortion of our intentions and efforts,” stated Coinbase in their response.
Warren had criticized Coinbase for hiring former legislators and law enforcement officials, perceiving it as an attempt to circumvent regulations.
Legitimate Hires, According to Coinbase
According to Coinbase, the hiring of former legislators and law enforcement officials was not intended to circumvent regulations, but rather to recruit highly qualified and competent individuals considered to be “the best talent at all levels.”
Coinbase also emphasized its commitment to balanced and responsible regulation and legislation in the cryptocurrency industry, suggesting that their goal is to collaborate with regulators to foster a safe and regulated environment for investors.
The company also warned of the potential dangers of pushing cryptocurrency innovation out of the United States, drawing an analogy to semiconductor and mobile phone technologies.
