U.S. Senator Elizabeth Warren (D-Mass.) and U.S. Representative Alexandria Ocasio-Cortez (D-NY) have requested regulators to explain their policies on former employees working in the cryptocurrency industry. The senators cited “the increasing incidence of revolving door hiring” in a letter written to practically all federal financial authorities, and questioned how long anyone involved in regulating the crypto industry are prevented from seeking employment in it. Together with their co-signatories, the two express concerns that crypto businesses may recruit former financial regulators and government officials to beef up their lobbying activities.
