Sean Maloney Steps Down From Coinbase Role Amid Criticism

Sean Patrick Maloney, who Joe Biden picked to be an ambassador to the OECD and swore to step down from any crypto-related decisions and resign his post as an adviser at Coinbase if confirmed.

This decision was in response to Senator Elizabeth Warren’s accusation that cryptocurrency companies misused the revolving door policy of the government to get advantages in their market.

Along those lines, he has pledged to follow the rules related to crypto-related employment and board services for a minimum four-year time period after his potential term in the OECD.

Crypto companies are spending millions building an army of former defense and law enforcement officials to lobby against new rules shutting down crypto-financed terrorism. This revolving door boosts the crypto industry, but endangers our national security. https://t.co/OGnrL0VKdH
— Elizabeth Warren (@SenWarren) December 19, 2023

This news draws much attention to the dispute about crypto regulation and the ethics related to the connection between former government officials and specific industries.

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