US Marshals Miss Deadline on Silk Road Bitcoin Report
- The US Marshals Service (USMS) missed a deadline to report on Bitcoin management from the Silk Road case to Senator Cynthia Lummis.
- Senator Lummis expressed concerns over the planned sale of 69,370 Bitcoin, valued at approximately $7 billion.
- Lummis highlighted a potential 98% loss in value from previous sales of 195,092 Bitcoin, which generated $366 million but would be worth over $18.9 billion today.
- The Department of Justice cited Bitcoin price volatility as a reason for an expedited sale despite legal challenges.
- Senator Lummis chairs the Senate Banking Subcommittee on Digital Assets, aiming to establish a legal framework for digital assets.
The USMS failed to meet its reporting deadline concerning seized Bitcoin from the Silk Road case, raising transparency and financial concerns as highlighted by Senator Cynthia Lummis regarding past and planned asset sales.
Source (2.6)https://cryptobriefing.com/us-marshals-bitcoin-report-deadline/?rand=59535
