Senator Lummis Urges Federal Agencies to Address Digital Assets Concerns

Senator Cynthia Lummis criticized the U.S. Marshals Office and the Federal Deposit Insurance Corporation (FDIC) regarding their actions related to cryptocurrency.

Lummis urged the U.S. Marshals to halt the liquidation of almost 70,000 bitcoin seized from the Silk Road case, valued at approximately $6.9 billion.
She argued this liquidation contradicts President-elect Trump's interest in establishing a U.S. bitcoin strategic reserve.
Lummis stressed that liquidating assets during the presidential transition period is inappropriate, especially with pending legal challenges.
She sent a letter to the FDIC addressing reports of an effort to conceal evidence related to Operation Chokepoint 2.0, which aims to limit banking services for digital assets.
Lummis warned any concealment would be illegal and unacceptable.
The Senate Banking Committee has formed a subcommittee on digital assets, with Lummis expected to lead it.
Senator Tim Scott outlined plans for a regulatory framework for digital assets, promoting financial inclusivity.