FDIC Staff Threatened Over Digital Asset Oversight Senator Lummis has positioned herself as a strong advocate for Bitcoin (BTC) and other cryptocurrencies, and her concerns about the FDIC come amid heightened scrutiny of the agency’s handling of digital assets. In her letter, she emphasizes the gravity of the allegations, stating, "The FDIC’s alleged efforts to destroy and conceal materials from the US Senate related to Operation Chokepoint 2.0 is not only unacceptable, it is illegal.” Related Reading: Top Analyst Reports Massive Breakout For XRP Price, Eyes $10 As Next Milestone For context, operation Chokepoint 2.0 refers to a controversial initiative aimed at regulating financial institutions that engage with certain "high-risk industries,” including the digital asset sector.
Lummis further underscores the importance of retaining any materials containing terms associated with digital assets, such as "crypto,” "cryptocurrency,” "Bitcoin,” and "Ethereum.” Related Reading: Dogecoin Open Interest Spikes To Nearly $5 Billion – Impact On Price She makes it clear that any classification of these documents as confidential or privileged does not exempt them from the Senate’s oversight powers, insisting that the FDIC must take all necessary steps to secure and maintain the integrity of these records.
In a significant development for the ongoing discourse surrounding the digital asset sector, US Senator Cynthia Lummis (R-WY) has raised serious allegations against the Federal Deposit Insurance Corporation (FDIC). In a letter directed to FDIC Chair Marty Gruenberg, Lummis claims whistleblowers from within the agency have reported efforts to destroy documentation related to the FDIC’s digital asset activities.
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