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
Anthropic files for a $2 trillion IPO — the $80.7 billion loss is the decoy, the $450 billion compute bill is the riskAnthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
Author  Irene Q.
Oct 27, Tue
Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
placeholder
Brent's $115 front month sits $4.6 above January — the $14 spread to WTI is the supply-risk premiumDecember Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.
Author  Irene Q.
Oct 28, Wed
December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 29, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 29, 2026. Read on for the details.
Author  Mitrade
Yesterday 02: 06
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 29, 2026. Read on for the details.
placeholder
The Fed held at 3.75%–4.00% — and two officials voted to hike. December is now 85% pricedThe FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.
Author  Irene Q.
Yesterday 02: 55
The FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 30, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 30, 2026. Read on for the details.
Author  Mitrade
4 hours ago
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 30, 2026. Read on for the details.
goTop
quote