In a rather concerning turn of events, US Senator Cynthia Lummis has said Federal Deposit Insurance Corporations (FDIC) whistleblowers claim the agency is actively destroying documents related to digital assets. Specifically, Lummis took to X (formerly Twitter) to accuse the agency of hiding information regarding Operation Chokepoint 2.0.
Operation Choke Point 2.0 has long been theorized as an effort by the US government to limit the expanding reach of the cryptocurrency sector. Late last year, redacted letters from the FDIC saw the agency call for a “pause” on crypto activity in the banking sector.
The development reinforced the long-held assumption that regulations were seeking to keep the asset class out of traditional finance. Now, US Senator Lummis has alleged the agency is actively destroying a paper trail connected to similar activities.
JUST IN: 🇺🇸 Senator Cynthia Lummis says FDIC whistleblowers claim the agency is destroying documents related to digital assets.
— Watcher.Guru (@WatcherGuru) January 16, 2025
Also Read: US Senator Lummis & Trump’s Treasury Secretary Meet to Talk Bitcoin Reserve
US Senator Cynthia Lummis: FDIC Whistleblowers Say Agency is Destroying Operation Choke Point 2.0 Documents
After concluding what is a monumental year for the asset class, 2025 was poised to be even greater. With the US President-elect set to be inaugurated in just four days, widespread crypto policy changes are expected. Yet, that hasn’t stopped the ongoing pursuit for information on why the asset class has long been challenged in the United States.
That ongoing development took a stark turn Thursday. Indeed, US Senator Cynthia Lummis says FDIC whistleblowers claim the agency is actively destroying documents related to digital assets. Specifically, Lummis shared a letter in which the affected documents are related to Operation Choke Point 2.0.
The FDIC is attempting to hide Operation Chokepoint 2.0 and the FDIC must preserve all documents related to digital assets immediately. Tim Scott and I will get to the bottom of it. pic.twitter.com/98uLVVs60D
— Senator Cynthia Lummis (@SenLummis) January 16, 2025
Also Read: US Lawmakers Push Bipartisan Support For Bitcoin Reserve Bill
“The FDIC is attempting to hide Operation Chokepoint 2.0, and the FDIC must preserve all documents related to digital assets immediately,” Lummis said in a post. “Tim Scott and I will get to the bottom of it,” the US Senator added.
Lummis has been instrumental in the push to get the asset class recognized on a much larger scale. Late last year, she introduced the groundbreaking Bitcoin Act. Specifically, it called for the establishment of a strategic BTC reserve in the country. Now, Trump is expected to greenlight the plan, potentially in his first 100 days back in office.