Senator Cynthia Lummis Demands FDIC to Halt Destruction of Operation Chokepoint 2.0 Materials
Senator Cynthia Lummis has sent a letter to the Federal Deposit Insurance Corporation (FDIC) warning the regulators not to destroy any information related to the agency's efforts to hinder digital asset innovation.
- Reports suggest that the FDIC has used its influence to discourage banks from partnering with digital asset firms. This government activity during the Biden Administration has been called Operation Chokepoint 2.0.
- The Senator stated that her office was contacted by Federal Deposit Insurance Corporation (FDIC) whistleblowers who alleged that materials related to this questionable activity were being destroyed under the leadership of FDIC Chair Marty Gruenberg.
- They allege that management is closely monitoring staff access to these materials to prevent their disclosure to the before they are destroyed. Furthermore, some employees have reportedly faced threats of legal action to deter them from speaking out.
"The FDIC’s alleged efforts to destroy and conceal materials from the U.S. Senate related to Operation Chokepoint 2.0 is not only unacceptable, it is illegal. If it is uncovered that anyone within the FDIC has knowingly destroyed materials or sought to obstruct the oversight functions of the Senate, it will result in swift criminal referrals to the U.S. Department of Justice," the Senator said in a public letter.
- Lummis has also recently expressed urgent concern in a letter to the Director of the U.S. Marshals Service regarding their plan to dispose of nearly 70,000 BTC seized from the Silk Road case.
Announcement / Archive
Full Letter
Bloomberg Law Article / Archive
- Do you want more? Subscribe and get No Bullshit GM report straight to your mailbox and No Bullshit Bitcoin on Nostr.
- Feedback or news tips? Drop it here.
