Washington, D.C.— Senator Cynthia Lummis (R-WY), Chair of the Senate Banking Subcommittee on Digital Assets, issued a slew of document demands to the Federal Reserve Board of Governors and the Federal Reserve Banks of Dallas and Richmond regarding Operation Chokepoint 2.0 and digital assets.
“The days of the Fed hiding its policy bias and mismanagement are over,” said Lummis. “Ensuring we have transparency in the digital asset space is integral to maintaining public trust and promoting responsible innovation in this rapidly evolving space. Congress has a constitutional duty to conduct thorough oversight, and Chairman Tim Scott and I are making sure the American people get the answers they deserve on Operation Chokepoint 2.0.”
In her requests, Senator Lummis emphasized that claims of privilege or confidentiality do not exempt the Federal Reserve from Congressional oversight under Article I of the U.S. Constitution. The letters set a deadline of March 13, 2025 for production of documents.
As Chair of the newly formed Subcommittee on Digital Assets, Senator Lummis has made oversight of federal regulators’ approach to digital asset innovation a top priority for the 119th Congress.
Full text of the cover letter to the Federal Reserve Board of Governors can be found here.
Full text of the cover letter to the Federal Reserve Board Inspector General can be found here.
Full text of the letter to the Federal Reserve Bank of Dallas can be found here.
Full text of the letter to the Federal Reserve Bank of Richmond can be found here.
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