👩Senator Lummis Exposes FDIC’s Alleged Destruction of Key Documents Related to 'Operation Chokepoint 2.0'
Wyoming Senator Cynthia Lummis recently sent a formal letter to Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg, expressing concerns about the potential destruction of documents related to digital asset activities within the FDIC.
Lummis revealed that a whistleblower contacted her office, accusing the FDIC of destroying relevant documents. She believes this action is illegal and has requested the retention of all records related to cryptocurrency activities since January 2022.
In her letter, Lummis disclosed that the whistleblower has been under close surveillance by FDIC management and has faced threats of legal action to prevent communication with her office. She condemned such behavior by the FDIC, stating it attempts to conceal materials related to 'Operation Chokepoint 2.0', which is unacceptable and illegal. This operation is alleged to be aimed at preventing the cryptocurrency industry from accessing traditional banking services.
Last year, the cryptocurrency industry expressed concerns about how regulators were handling cryptocurrency-related banking operations. During a meeting in August, several industry representatives discussed these issues with White House officials. Although Deputy Secretary of the Treasury Wally Adeyemo denied any attempts to block cryptocurrency from entering the financial system, nearly all attendees reported experiencing limited banking services due to White House policies.
As a result, Lummis instructed the FDIC to retain all documents related to digital asset activities from January 1, 2022, covering communications with specific banks, correspondence regarding cryptocurrency enforcement actions, and records of coordination on digital asset policies with other government agencies.
Lummis clearly stated in her letter that she would spare no effort in pursuing criminal responsibility for any deliberate destruction of documents or obstruction of oversight. She firmly emphasized the indispensable nature of transparency and committed to uncovering the facts and disclosing the truth for the American people.
💬 Do you think Lummis's accusations against the FDIC are justified? Will the cryptocurrency industry see a new turning point as a result?