Six Democratic senators have raised concerns about Deputy Attorney General Todd Blanche’s handling of cryptocurrency regulations.
They said his personal crypto holdings may have created a conflict of interest.
The lawmakers, Mazie Hirono, Richard Durbin, Elizabeth Warren, Sheldon Whitehouse, Christopher Coons, and Richard Blumenthal, sent a letter to Blanche on January 28.
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They said that, according to his financial disclosure forms, he held between $158,000 and $470,000 worth of cryptocurrency when he introduced a policy that softened federal oversight of the industry.
They cited federal law, 18 U.S.C. § 208(a), which bars officials from participating in matters that could affect their own finances. The letter stated, “At the very least, you had a glaring conflict of interest and should have recused yourself”.
Blanche reportedly owned Bitcoin
The senators said Blanche had promised to sell his crypto holdings “as soon as practicable” in February 2025, but instead transferred or sold them to relatives.
In their letter, the lawmakers asked Blanche to explain which internal reviews were conducted before his policy was approved, to provide all communications with cryptocurrency representatives between March 5 and April 7, and to clarify why his divestment was not completed until May 31.
They requested that he respond to their questions by February 11.
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