The post Cynthia Lummis Accuses FDIC of Destroying Operation Chokepoint 2.0 Records appeared on BitcoinEthereumNews.com.
Wyoming Senator Cynthia Lummis has issued a formal letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, expressing concerns following reports from whistleblowers within the agency. According to the Republican legislator, her office was contacted by individuals alleging that the corporation was destroying documents tied to its digital asset activities. The Alleged Activities In her letter on Thursday, Lummis highlighted claims that suspected whistleblowers were being “closely monitored by management” as part of an effort to block communication with her office, with threats of legal action if staff members attempted to reach out. She condemned the purported activities in a separate statement, saying: “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.” The assertions revolve around “Operation Chokepoint 2.0,” an initiative ostensibly designed to hinder the crypto sector’s access to traditional banking and financial services. Concerns over the approach of regulators to crypto-related banking surfaced prominently last year. In August, multiple crypto industry figures met with White House officials to discuss their relationship, including Mark Cuban and Anthony Scaramucci, as well as representatives from Coinbase, Kraken, and Uniswap. During the meeting, Deputy Treasury Secretary Wally Adeyemo denied any coordinated attempt to block crypto from the financial system. However, when a participant asked who had experienced restricted banking access due to White House policies, nearly all attendees reportedly raised their hands. Coinbase also sued the FDIC in June 2024, accusing it of attempting to sever crypto’s ties to traditional banking. However, the agency has denied targeting the industry. Its 2024 Risk Review report said that financial institutions are “neither prohibited nor discouraged from providing banking services to customers of any specific class or type.” Senator Asks for Preservation of Crypto Records In her message…