US Senator Cynthia Lummis has taken a strong stance in support of the crypto industry, targeting two federal agencies with concerns over their handling of digital assets. As the new Congress begins and President Donald Trump prepares to take office, Lummis warned the US Marshals Office to slow down its crypto asset sales, citing the potential for a US bitcoin reserve.
She also cautioned the Federal Deposit Insurance Corp against concealing evidence related to Operation Chokepoint 2.0, a campaign to restrict digital assets activities from US banking. Lummis argued that the sales of bitcoin, including current holdings of almost 70,000 bitcoin worth about $6.9 billion, are inappropriate considering Trump's interest in a US bitcoin strategic reserve.
The senator's efforts coincide with the establishment of a subcommittee focusing on digital assets, which she is expected to lead, and the crafting of a US regulatory framework for digital assets.