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In Crypto ‘Help Wanted,’ Feds Try a Third Time to Find Vendor

Nov. 28, 2022, 10:00 AM

Seized cryptocurrency assets slated for liquidation into Treasury Department accounts are too complex for the US Marshals Service to continue managing internally, according to solicitation documents requesting bids from contractors qualified to manage the government’s portfolio.

The asset forfeiture office for the Marshals Service has run its own custody, storage, management, and disposal of seized cryptocurrency since 2014. Since then, it said, “the number and complexity of virtual currency assets has increased, and the need for a contract to provide management, disposal, and industry knowledge is apparent.”

It said it’s looking for a vendor to provide the crypto management and ...