In a significant development for the ongoing discourse surrounding the digital asset sector, US Senator Cynthia Loomis (R-WY) has made 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 attempts to destroy documents related to the FDIC’s digital asset activities. The senator’s letter calls for an immediate halt to these alleged actions in anticipation of congressional oversight.
FDIC The staff has been threatened over the monitoring of digital assets
Senator Loomis has presented himself as a strong advocate Bitcoin (BTC) and other cryptocurrencies, and his concerns about the FDIC come amid heightened scrutiny of the agency’s handling of digital assets.
In that the letterHe emphasized the seriousness of the allegations, saying, “The FDIC’s alleged efforts to destroy and conceal material from the US Senate related to Operation Chokepoint 2.0 are not only unacceptable, they are illegal.”
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For reference, Operation Chokepoint 2.0 refers to a controversial initiative aimed at regulating Financial institutions Those associated with certain “high-risk industries”, including the digital asset sector.
Loomis’ correspondence outlines specific claims made by whistleblowers who allege that FDIC staff members faced threats of legal action to discourage them from disclosing information to the Senate.
She claims that management is closely monitoring access Document To prevent potential leaks before any material is destroyed. The senator said the alleged conduct, if proven true, violates the principles of transparency that the American public deserves.
‘The document must be protected and protected’
In his letter, Loomis specifically asked Chair Gruenberg to ensure that all material destruction ceases immediately and that all existing documents related to the FDIC’s digital asset activities are preserved beginning January 1, 2022.
The senator defines “digital asset activities” broadly, covering a wide range of topics, including the supervision and resolution of the banks involved. The crypto sector—specifically Signature Bank and Silvergate Bank—as well as the development of regulations and policies governing digital assets.
Loomis points out the importance of retaining any content related to digital assets, such as “crypto,” “cryptocurrency,” “bitcoin,” and “ethereum.”
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She clarifies that no classification of these documents as secret or privileged exempts them from the Senate’s oversight powers, insisting that FDIC All necessary steps should be taken to protect and maintain the integrity of these records.
The senator warned that she would not hesitate to refer the matter to the US Department of Justice (DOJ) for criminal investigation if evidence emerged that FDIC staff had intentionally destroyed materials or obstructed Senate oversight. .
At the time of writing, the market’s leading cryptocurrency, Bitcoin, is once again trading above the $101,000 mark, up nearly 8% on a weekly basis.
Featured image from DALL-E, chart from TradingView.com
