Senator Cynthia Lummis expressed concerns over alleged FDIC activities related to destroying documents on digital assets. These allegations have led to a formal request addressed to the agency.
Allegations of Document Destruction
In her letter to FDIC Chair Martin Gruenberg, Senator Cynthia Lummis underscored claims from whistleblowers that agency management is monitoring them and threatening lawsuits for contacting her office. She denounced these actions in a separate statement, stressing that the destruction of materials related to Operation Chokepoint 2.0 is unacceptable and illegal.
Request for Data Preservation
Lummis demanded that the FDIC preserve all documents related to digital assets since January 1, 2022. Her request includes communications with Signature Bank, Silvergate Bank, and records concerning cooperation with other federal agencies. The senator also emphasizes preventing any modification or destruction of electronic data.
Accountability and Transparency
Senator Lummis warned that anyone found to have destroyed materials or obstructed Senate oversight should face criminal charges. She highlighted the importance of transparency and aims to ensure Americans receive accurate information about the FDIC's actions.
The situation regarding Senator Lummis' claims has once again brought attention to the regulation of the cryptocurrency sector. Whether the FDIC will comply remains to be seen, but demands for transparency in this area are growing.
