Main takeout
- The US Marshall Service has missed the deadline for reporting to Senator Cynthia’s Bitcoin management of Silk Road Case.
- Senator Lummis has been concerned about the planned sales of 69,370 Bitcoin, about $ 7 billion and cited 98%of value loss.
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USMS (US Marshals Service) missed Friday deadline. In the Silk Road Case, Cynthia Lummis Senator provided more information about Bitcoin processing seized.
Senator Lummis raised concerns about the planning of institutions for Bitcoin, which is about $ 7 billion in the current market price in a letter to USMS last month. She cited a conflict between potential financial losses for taxpayers and the Trump administration’s policy guidelines.
In a letter of Lummis’s USMS, the institution emphasized the sales of previous Bitcoin sales, and between 2014 and 2023, 195,092 bitcoin disposal reached about $ 336 million. This stake is worth more than $ 18.9 billion at the current market price, indicating that Lummis is called “98% loss of potential.”
The letter also paid attention to the recent submission of the court, which cited Bitcoin price volatility in order to justify the prompt sales. She found an aggressive pursuit of the department, especially during the presidential conversion period.
The letter demanded greater transparency in USMS’s Bitcoin Asset Management, including the release of its own. He also tried to guarantee better decisions in the future and to guarantee better decisions in the future.
When the letter was published, there was a wide range of expectations that Trump would issue an administrative order (EO) to establish a national Bitcoin stockpile, the main promise of the presidential campaign.
On January 23, the president signed an EO instructing the working group to evaluate the possibility of the National Digital Asset stockpile.
This command does not fulfill the specific promise of a dedicated Bitcoin protection zone, but it opens up the possibility of being part of the stockpile when a bitcoin is established, which may include other encryption assets seized by Bitcoin and federal authorities. .
The USMS, which supervises the digital assets seized during the crime investigation, manages an asset confiscation program worth about $ 7.6 billion as of September 2024.
While the agency missed the deadline, the person who was used to this problem said that in a few weeks, Lummis and employees would simply provide an inventory with Bitcoin.
Senator Lummis was appointed as a newly formed Senate Bank Subcommittee Chairman of Digital Assets. This subcommittee is the first type of dedicated to supervising digital assets according to the Senate Bank Commission, led by Senator Tim Scott.
The subcommittee aims to pass a two -party law that establishes a comprehensive legal framework for digital assets. This framework is intended to promote responsible innovation while protecting consumers and provides provisions for market structure, Starble Recon and strategic Bitcoin protection zones.
Lummis simply tried to create a US strategic Bitcoin protection area with a proposed bill called Bitcoin Act, allowing the government to take over one million Bitcoin, which is about 5% of its total supply.
If this bill died as of January 3, 2025, but plans to introduce it again in 2025, you can take advantage of the newly elected encryption -friendly administration.
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