TechFlow news, January 18 — According to Crowdfund Insider, Senator Cynthia Lummis sent a letter to the Federal Deposit Insurance Corporation (FDIC), demanding that it cease destroying any information related to the agency's efforts to undermine digital asset innovation. The report states that the FDIC has used its power and influence to block banks from partnering with digital asset firms, a practice referred to as "Operation Chokepoint 2.0." Lummis said FDIC insiders revealed that under Chair Marty Gruenberg’s leadership, there have been actions to destroy relevant materials. In her letter, Lummis demanded an immediate halt to such activities and warned that if the allegations are true, she would swiftly refer the matter to the U.S. Department of Justice. The Biden administration has consistently opposed digital asset innovation, but this policy is expected to shift under the incoming Trump administration.
Previous report, the FDIC was exposed for deliberately concealing documents about its crackdown on the crypto industry and conducting social media investigations on multiple critics.
