Regulation
Senator Cynthia Lummis Unveils Major Pro-Bitcoin Bill at BTC Conference
Senator Cynthia Lummis of Wyoming has introduced a groundbreaking Bitcoin bill. Unveiled at the Bitcoin Conference, the bill proposes a radical solution to tackle the United States’ growing national debt: requiring the Federal Reserve to hold Bitcoin as a strategic reserve asset.
Senator Cynthia Lummis’s Revolutionary Bitcoin Bill
Wyoming Republican Senator Cynthia Lummis, known for her pro-cryptocurrency stance, has unveiled a groundbreaking Bitcoin bill aimed at solving the United States’ national debt problem. The announcement was made at The Bitcoin Conferencewhere Lummis introduced legislation that would require the Federal Reserve to hold Bitcoin as a strategic reserve asset.
The bill, which Lummis had quietly crafted, aims to establish Bitcoin as a mainstream financial asset and potentially revolutionize the cryptocurrency According to crypto industry executives familiar with the legislation, the move could have a significant impact on the thriving crypto sector.
Lummis said creating a strategic reserve of Bitcoin would help solidify the dollar’s position as the world’s reserve currency in the 21st century and ensure we remain the world leader in financial innovation. She highlighted the importance of the bill in light of current economic challenges, saying, “Families in Wyoming and across the United States are struggling to keep up with skyrocketing inflation rates and record costs while our national debt reaches unprecedented levels.”
Senator Cynthia Lummis believes that diversifying into Bitcoin could secure America’s economic future and create “a brighter future for generations of Americans.” The bold proposal marks a significant step in integrating cryptocurrencies into mainstream financial policy and could have far-reaching implications for the U.S. economy and the global cryptocurrency market.
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Trump’s Crypto Vision at Bitcoin 2024 Conference
At the Bitcoin 2024 conference, Donald Trump He criticized the SEC’s approach to Bitcoin and promised to end the “anti-crypto crusade” if elected. He promised to make the United States the “crypto capital of the world” and a “Bitcoin superpower.”
Trump now sees the government, not cryptocurrencies, as the real threat to the dollar. He also unveiled his plan to hold all U.S. bitcoin holdings as a strategic reserve and turn the country into a mining powerhouse. This marks a significant shift in Trump’s stance on cryptocurrencies, signaling potential major policy changes if he returns to power.
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