The US government has chosen the famous American cryptocurrency exchange Coinbase to manage its digital assets. The United States Marshals Service (USMS), a part of the Department of Justice (DOJ), has announced its collaboration with Coinbase to custody and manage a significant amount of “Class 1” cryptocurrencies. This measure aims to professionally and legally handle and dispose of these assets in accordance with departmental policies. The USMS states that this contract will help streamline the processes associated with cryptocurrency management and disposal, allowing for the handling of a broader range of assets under the government’s seizure plans. The contract with Coinbase is valued at $325,200.
Coinbase has highlighted its extensive experience in collaborating with government agencies, mentioning its support for law enforcement departments since 2014 in a blog post. The company has worked with numerous federal, state, and local law enforcement agencies, as well as international organizations. Coinbase emphasizes that these partnerships are crucial for fostering a secure and efficient market, aligning with their mission to develop the cryptocurrency economy.