The United States Marshals Service (USMS) has chosen Coinbase Prime to manage specific digital assets as part of its responsibility for asset forfeiture, according to an announcement on July 1. Coinbase indicated that the USMS opted for its institutional arm to handle custody and advanced trading services for large-cap digital assets. The exchange stated it would centrally manage these assets in support of the federal agency, which occasionally assumes control of cryptocurrencies seized by the Department of Justice.
In 2022, the Office of the Inspector General for the Justice Department published findings from an audit highlighting challenges faced by the Marshals Service in managing and tracking cryptocurrency. By March