U.S. Senator Cynthia Lummis stated that the Federal Reserve's recent withdrawal of certain guidelines related to cryptocurrency is merely symbolic. She noted that the Fed continues to unlawfully obstruct access to the master accounts of cryptocurrency banks and still uses reputational risk in bank supervision.

Lummis also criticized the Fed for not retracting the Policy Statement on Section 9(13), which classifies Bitcoin and digital assets as "unsafe and unsound".