The US government has chosen the famous American cryptocurrency exchange Coinbase to manage its digital assets. The US Marshals Service (USMS), under the Department of Justice (DOJ), announced its collaboration with Coinbase to custody and manage a significant amount of “Class 1” cryptocurrencies. This measure aims to professionally and lawfully handle and dispose of these assets in accordance with department policies.
The USMS stated that this contract will help streamline the processes related to cryptocurrency management and disposal, allowing for the handling of a broader range of assets under government forfeiture programs. The contract with Coinbase is valued at $325,200.
Coinbase emphasized its rich experience in collaborating with government agencies in a blog post, highlighting its support for law enforcement since 2014. The company has partnered with numerous federal, state, and local law enforcement agencies, as well as international organizations. Coinbase stressed the importance of these partnerships in fostering a secure and efficient market, aligning with their mission to develop the crypto economy.