'Over 200 government officials have moved between public service and crypto firms,' said the lawmakers. cryptocurrency
US Lawmakers Probe SEC, Treasury, Federal Reserve Over Revolving Door With Crypto Industry
The letters were sent to Securities Exchange Commission Chair Gary Gensler, Commodity Futures Trading Commission Chair Rostin Behnam, Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, Federal Deposit Insurance Corporation Acting Chair Martin Gruenberg, Office of the Comptroller of the Currency ’s Acting Comptroller of the Currency Michael J. Hsu, and Consumer Financial Protection Bureau Director Rohit Chopra.
“According to the Tech Transparency Project, over 200 government officials have moved between public service and crypto firms, serving as advisers, board members, investors, lobbyists, legal counsel, or in-house executives,” the letter details. “Americans should be confident that regulators are working on behalf of the public, rather than auditioning for a high-paid lobbying job upon leaving government service. The rapidly spinning revolving door out of government and into the crypto sector, however, undermines both imperatives,” the lawmakers stressed.
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