Senator Lummis Warns FDIC Against Destroying Crypto Documents

One of the Senate’s most ardent crypto supporters sent a letter today to the Federal Deposit Insurance Corp. warning the regulator against harassing whistleblowers and destroying documents related to cryptocurrencies, NFTs and other digital assets.

Senator Cynthia Lummis, a Wyoming Republican, wrote that agency whistleblowers contacted her office, alleging that the FDIC was destroying material related to “digital asset activities” and threatening some staff with legal action “to prevent them from speaking out.”

The senator directed the agency to preserve materials related to digital assets, including supervision of Signature Bank and Silvergate Bank, two community banks that worked ...