Maloney He told Warren in a letter dated February 9 POLITICO has obtained that if confirmed he would immediately resign from all private sector advisory work and withdraw from OECD decision-making processes on cryptocurrency and digital assets policy. He also pledges to extend recusals under the Biden administration's ethics pledge and commits not to accept employment, board service, or compensation from any cryptocurrency company or organization for four years following his term at the OECD.
“[I]“In response to your request, I am willing to voluntarily commit to stronger ethical standards,” he said in the letter.
Maloney's pledge is the latest example of Warren getting results in her campaign against cryptocurrencies and the broader revolving door between Washington and corporate America. Under Biden, where she has had significant influence over administration staff, she has also secured ethics commitments from nominees for agencies including the Federal Reserve, the Department of Defense and the Food and Drug Administration.
Warren is pushing for tough regulatory action against crypto risks. Late last year, Maloney came out in flames when she criticized the cryptocurrency industry for recruiting former lawmakers and national security officials while fighting her efforts.
“The abuse of the revolving door is appalling, revealing that the cryptocurrency industry is spending millions to give itself a veneer of legitimacy while fighting tooth and nail to block common-sense rules designed to restrict the use of cryptocurrencies to finance terrorism — rules that Warren said in December could lead to Reducing the profits of cryptocurrency companies.” “It also exposes major loopholes in the country’s ethics laws.”
