Regulation
Senator Cynthia Lummis Introduces Major Pro-Bitcoin Bill at BTC Conference
Senator Cynthia Lummis of Wyoming has introduced a revolutionary Bitcoin bill. Introduced at the Bitcoin Conference, the bill proposes a radical solution to the growing U.S. national debt: forcing the Federal Reserve to hold Bitcoin as a strategic reserve asset.
Senator Cynthia Lummis’ Revolutionary Bitcoin Bill
Senator Cynthia Lummis, a Wyoming Republican known for her pro-cryptocurrency stance, has introduced a groundbreaking Bitcoin bill aimed at addressing the U.S. national debt. The announcement was made in The Bitcoin Conferencewhere Lummis introduced legislation that would require the Federal Reserve to hold Bitcoin as a strategic reserve.
The bill, which Lummis had been quietly developing, aims to establish Bitcoin as a mainstream financial asset and potentially revolutionize the cryptocurrency industry. According to crypto industry executives familiar with the legislation, this move could have a significant impact on the burgeoning crypto business.
Lummis said that establishing a strategic reserve of Bitcoin would firmly secure the dollar’s position as the world’s reserve currency in the 21st century and ensure we remain a global leader in financial innovation. He emphasized the bill’s importance in light of current economic challenges, saying, “Families in Wyoming and across the United States are struggling to keep up with skyrocketing inflation 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.” The bold proposal marks a significant step in integrating cryptocurrency into mainstream financial policy and could have far-reaching implications for both the U.S. economy and the global cryptocurrency market.
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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 United States the “crypto capital of the planet” and a “Bitcoin superpower.”
Trump now sees the government, not cryptocurrencies, as the real threat to the dollar. He also unveiled plans to keep all U.S. Bitcoin as a strategic reserve and turn the country into a mining powerhouse. This marks a significant shift in Trump’s stance on cryptocurrencies, indicating potential major policy changes if he returns to office.
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