Senator Cynthia Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, has requested documents from the Federal Reserve Board of Governors and the Federal Reserve Banks of Dallas and Richmond. The request pertains to Operation Chokepoint 2.0 and digital assets.
“The days of the Fed hiding its policy bias and mismanagement are over,” stated 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.”
Lummis highlighted that claims of privilege or confidentiality do not exempt the Federal Reserve from Congressional oversight under Article I of the U.S. Constitution. The deadline for document submission is March 13, 2025.
As head of the newly formed Subcommittee on Digital Assets, Senator Lummis prioritizes oversight of federal regulators’ approach to digital asset innovation during the 119th Congress.
The full text of her letters to various branches of the Federal Reserve can be accessed through provided links.
