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Post: Former U.S. Representative Pledges to Recuse Himself From Crypto Policy at OECD

Former U.S. Representative Pledges to Recuse Himself From Crypto Policy at OECD

Key Points:

  • Former U.S. Representative Sean Patrick Maloney plans to stop working on crypto-related issues if confirmed as a U.S. representative to the Organization for Economic Cooperation and Development (OECD).
  • Maloney sent a letter to Senator Elizabeth Warren pledging to resign from private-sector advisory work and recuse himself from decisions impacting crypto policy at the OECD if confirmed.
  • Maloney joined Coinbase’s Global Advisory Council around the same time as President Biden’s announcement of his nomination for OECD ambassador.
  • In December 2023, Senator Warren criticized crypto advocacy groups for hiring former government officials, including Maloney, and called it a “revolving door” policy.

Former U.S. Representative Pledges to Recuse Himself From Crypto Policy at OECD

Former U.S. Representative Sean Patrick Maloney has stated that he will cease working on cryptocurrency-related issues if confirmed as a representative to the Organization for Economic Cooperation and Development (OECD). In a letter sent to Senator Elizabeth Warren, Maloney pledged to resign from his private-sector advisory work and recuse himself from any decisions affecting crypto policy at the OECD. The move comes after Maloney joined Coinbase’s Global Advisory Council, prompting criticism from Senator Warren and others who accused the company of hiring former government officials through a “revolving door” strategy.

Hot Take:

Sean Patrick Maloney’s decision to recuse himself from crypto-related policy decisions at the OECD shows an awareness of potential conflicts of interest. By resigning from his private-sector advisory work and committing to recuse himself, Maloney is taking steps to ensure impartiality and avoid any perceived bias. This move highlights the growing scrutiny and concerns surrounding the revolving door between the public and private sectors in the cryptocurrency industry. It also underscores the need for clear regulations and ethical guidelines to address these issues and maintain the integrity of policymaking in the cryptocurrency space.

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