Senator Cynthia Lummis has raised concerns over the sale of over 69,000 Bitcoins seized in the Silk Road case, citing possible financial losses for taxpayers.
USMS Missed Deadline
The U.S. Marshals Service failed to provide Senator Cynthia Lummis with information on the seized Bitcoins from the Silk Road case by the deadline. Lummis expressed concerns that the planned sale of these Bitcoins might conflict with previous policies of the Trump administration.
Potential Taxpayer Losses
Senator Lummis pointed out that USMS had previously sold 195,092 Bitcoins for $366 million, which would be worth $18.9 billion today, indicating a significant loss of potential value for taxpayers.
Transparency and Future Legislation
Lummis called for greater transparency in how USMS manages Bitcoin assets and accountability for past losses. She also mentioned that while her BITCOIN Act did not pass, she might reconsider it in the future with the support of a crypto-friendly administration.
Given the significant financial implications of USMS managed Bitcoins, Senator Lummis continues to seek increased transparency and accountability in this area.
