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Press Release | January 24, 2024

Press Release: The Revolving Door Project Calls On Senate To Delay Confirmation Of Sean Patrick Maloney Until Crypto Ties Can Be Investigated

CryptocurrencyEconomic PolicyEthics in GovernmentForeign PolicyRevolving Door
Press Release: The Revolving Door Project Calls On Senate To Delay Confirmation Of Sean Patrick Maloney Until Crypto Ties Can Be Investigated

The Senate Foreign Relations Committee Waved Maloney Through Without So Much As A Whisper About His Connections To Coinbase, The Cryptocurrency Firm That Has Employed Him Since His Nomination Was Announced.

FOR IMMEDIATE RELEASE

Contact: Henry Burke, burke@therevolvingdoorproject.org

In response to the Senate Foreign Relations Committee voting to advance the nomination of Sean Patrick Maloney as Ambassador to the OECD, Revolving Door Project Executive Director Jeff Hauser released the following statement:

“Unlike most cases of conflicts of interest, where a nominee had performed work in the past that could play a role in how they approach their government position, this is a case of a private firm hiring an individual after their imminent nomination was known. Sean Patrick Maloney was appointed to Coinbase’s Global Advisory Council well after rumors of his appointment to the OECD Ambassador position were swirling in the DC press.” 

“This not only allowed Maloney’s Coinbase work to escape notice on his financial disclosure
ーwhich he had already submittedー but it allowed a cryptocurrency firm with demonstrated interest in OECD policymaking to hire the presumptive future US Ambassador to the OECD.”

“The November 16th hearing conducted by the Senate Foreign Relations Committee passed without mention of Maloney’s crypto ties or questions as to the role the OECD will have in shaping the future of global cryptocurrency regulation. Now Maloney’s nomination has been advanced without a single question on this issue in the interim. With OECD member states comprising over half of the world’s GDP, the importance of this organization in shaping digital asset regulations cannot be overstated.” continued Hauser. 

“There is no reason why the public should be left wondering if our nation’s ambassadors are truly working in the best interest of our country. The Senate should refuse to advance Maloney’s nomination for a floor vote until this conflict of interest can be further investigated and addressed. ”

The Revolving Door Project’s Senior Researcher, Henry Burke wrote an article explaining Sean Patrick Maloney’s conflict of interest in The American Prospect on January 18th. The piece can be read here.

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CryptocurrencyEconomic PolicyEthics in GovernmentForeign PolicyRevolving Door

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