Dear Members of Congress,
We write to you as a group of experienced national security leaders, practitioners, and former military service members each with a distinct background at the nexus of digital asset technology and U.S. national security. Last fall, we raised our collective voice and traveled to Washington to discuss our insights with lawmakers. For many of us, this was the first time we engaged directly with Congress. Now, in response to a letter from Sen. Elizabeth Warren—in which she questioned the motivations and integrity of scores of U.S. military and intelligence veterans without addressing the substance of our arguments—we again raise our voice, not to inject ourselves needlessly into a political world that is new to many of us, but to stand up for what our experience tells us is right.
It is from this perspective that we, the signatories—acting independent of any employer and compelled only by the beliefs derived from our unique expertise—agree unanimously upon the following:
1. U.S. competitiveness and technological leadership are essential to our nation’s security.
2. Digital assets and the underlying technology are pivotal to our nation’s strategic advantage.
3. The Digital Asset Anti-Money Laundering Act (DAAMLA) risks our nation’s strategic advantage, threatens tens of thousands of U.S. jobs, and bears little effect on the illicit actors it targets.
To be clear, the digital asset industry strongly supports U.S. efforts to address illicit activities within the blockchain space. To achieve this effectively, it's crucial for the industry to develop within the United States, governed by domestic laws and regulations. Sen. Warren’s DAAMLA legislation, however, would inadvertently hinder law enforcement and national security efforts by driving the majority of the digital asset industry overseas. This shift could also lead to increased liquidity in unregulated offshore exchanges and a loss of valuable expertise and visibility for the U.S. in the blockchain realm. Further, this legislation, if implemented, will have no meaningful effect on the foreign illicit actors it targets.
As blockchain technology and the digital asset industry reach a critical juncture, it's essential to uphold shared American values at their core. For those lawmakers who are inclined to recognize our high-standing records of military and public service and learn from our distinct expertise on this matter, we appeal now to you: to your open mind and love of country—the very things that have guided the undersigned throughout our careers.
Sincerely,