Regulation

Senator Cynthia Lummis Unveils Major Pro-Bitcoin Bill At BTC Conference

Published

on


Senator Cynthia Lummis of Wyoming has introduced a revolutionary Bitcoin bill. Unveiled at The Bitcoin Conference, this legislation proposes a radical solution to tackle the United States’ mounting national debt: requiring the Federal Reserve to hold Bitcoin as a strategic reserve asset.

Senator Cynthia Lummis’ Groundbreaking Bitcoin Bill

Senator Cynthia Lummis, a Republican from Wyoming known for her pro-cryptocurrency stance, has unveiled a groundbreaking Bitcoin bill aimed at addressing the United States’ national debt. The announcement was made at The Bitcoin Conference, where Lummis introduced legislation that would require the Federal Reserve to hold Bitcoin as a strategic reserve asset.

The bill, which Lummis had been developing quietly, seeks to establish Bitcoin as a mainstream financial asset and potentially revolutionize the cryptocurrency industry. According to crypto executives familiar with the legislation, this move could significantly impact the burgeoning crypto business.

Lummis stated tha establishing a strategic Bitcoin reserve would firmly secure the dollar’s position as the world’s reserve currency into the 21st century and ensure we remain the world leader in financial innovation. She emphasized the bill’s importance in light of current economic challenges, saying, “Families across Wyoming and the U.S. are struggling to keep up with soaring inflation rates and record-breaking costs while our national debt reaches unprecedented levels.”

Senator Cynthia Lummis argues that diversifying into Bitcoin could secure America’s economic future and create “a brighter future for generations of Americans.” This bold proposal marks a significant step in the integration of cryptocurrency into mainstream financial policy and could have far-reaching implications for both the U.S. economy and the global crypto market.

Also Read: Ben Armstrong Apologizes to Solana Community, Here’s Why

Trump’s Crypto Vision at Bitcoin Conference 2024

At the Bitcoin Conference 2024, Donald Trump criticized the SEC’s approach to Bitcoin and vowed to end the “anti-crypto crusade” if elected. He promised to make the US the “crypto capital of the planet” and a “Bitcoin superpower.”

Trump now views the government, not crypto, as the real threat to the dollar. He also unveiled plans to retain all US Bitcoin holdings as a strategic reserve and transform the country into a mining powerhouse. This marks a significant shift in Trump’s stance on cryptocurrency, indicating potential major policy changes if he returns to office.

Also Read: Cantor Fitzgerald To Launch a $2 Billion Bitcoin Financing Fund

✓ Share:

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version