Senator Lummis criticizes Fed’s crypto guidance withdrawal as ‘noise, not real progress’
Senator Cynthia Lummis said the Federal Reserve’s recent decision to withdraw certain crypto-related supervisory directives is “just noise, not real progress,” criticizing the move as superficial in a statement shared on April 25 on X.
Lummis dismissed the withdrawals as insufficient. She accused the Fed of “assassinating companies within the industry” by previously restricting access to banking services and harming American competitiveness.
She added that the same Fed staff responsible for what she called “Operation Chokepoint 2.0,” a term used by some crypto advocates to describe efforts to isolate the sector from traditional banking, remain in place and continue to influence crypto policy.
The Federal Reserve announced…
