US Senators raise grave concerns over DOJ's policies towards cryptocurrency asset providers

Source Fxstreet
  • Senators Ron Wyden and Cynthia Lummis wrote to the Attorney General to express worries over new policies on money transmission. 
  • The DOJ has continued to take strict measures against crypto asset software services over the last few months, says Senators.
  • Senators urge the Attorney General to "discard" the new interpretation of money transmission released by the DOJ.

Senators Ron Wyden and Cynthia Lummis wrote to the Attorney General on May 9, expressing concerns over the Department of Justice's (DOJ) policies toward crypto asset providers. The Senators claim that the DOJ has been enforcing strict measures against crypto asset software services over the past few months.

Read more: Tornado Cash developer Roman Storm’s motion to dismiss accusations rebuffed by US DOJ

Senators criticize the DOJ's move against crypto services

In an X post on Monday, Senator Cynthia Lummis blasted the DOJ under President Joe Biden, claiming they wrongly interpreted the federal policy against unlicensed money-transmitting businesses.

She also disclosed the bipartisan letter she wrote with Senator Ron Wyden to the Attorney General's office expressing concern over the DOJ's recent expansion of the definition of money transmission.

The letter detailed the federal money-transmitting business statutes laid out by the Financial Crimes Enforcement Network (FinCEN) and how the DOJ's recent actions expanded their scope. "This interpretation threatens to criminalize Americans offering non-custodial crypto asset software services," said the Senators.

Also read: US intensifies battle against crypto privacy protocols following crackdown on Samourai Wallet

This follows the DOJ's actions against crypto mixers Samourai Wallet and Tornado Cash. The Department of Justice accused both crypto service providers of running unlicensed money-transmitting businesses. For such accusations, the Senators refer back to money-transmitting business statutes and what it claims to be criminal acts of money transmitting, which does not apply in this case.

The DOJ arrested and charged the founders of Samourai Wallet in April after charging Tornado Cash founders last year, accusing them of operating unlicensed money-transmitting businesses. The DOJ claimed that the two crypto mixers were involved in over $2 billion of unlawful transactions, with about $100 million of the funds being laundered money.

Read more: US House Committee set to address regulatory issues over digital assets through review of FIT21 Act

Senators Ron Wyden and Cynthia Lummis urge the Attorney General to "discard" the new interpretation of money transmission released by the DOJ, as it continues to affect the safety of crypto asset software service providers. They also challenge the DOJ to begin presenting a clear and logically sound interpretation of money transmission as written out by the FinCEN.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Elon Musk’s xAI and Neuralink Launch New Funding Rounds​Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
Author  Insights
Jun 03, 2025
​Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
placeholder
Pi Network Price Annual Forecast: PI Heads Into a Volatile 2026 as Utility Questions Collide With Big UnlocksPi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.
Author  Mitrade
Dec 19, 2025
Pi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.
placeholder
Markets in 2026: Will gold, Bitcoin, and the U.S. dollar make history again? — These are how leading institutions thinkAfter a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Author  Insights
Dec 25, 2025
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
placeholder
Silver Price Forecasts: XAG/USD extends its reversal below $76.00Silver (XAG/USD) is trading lower in an otherwise calm market session on Thursday.
Author  FXStreet
Jan 08, Thu
Silver (XAG/USD) is trading lower in an otherwise calm market session on Thursday.
placeholder
Gold Price Forecast: Can Gold Hold $4,020 as Fed Rate Hike Expectations Rise? As of the Asian session on July 30, gold prices ( XAUUSD) surged and then retraced following the Federal Reserve meeting, once falling to $4,028.62 during the session. From a market persp
Author  TradingKey
Jul 30, Thu
As of the Asian session on July 30, gold prices ( XAUUSD) surged and then retraced following the Federal Reserve meeting, once falling to $4,028.62 during the session. From a market persp
goTop
quote