Pro-BTC US Lawmaker Cynthia Lummis Joints Senate Banking...

Feb 8, 2021 10:34 UTC

| Updated:

Feb 8, 2021 at 10:34 UTC

By Clark

Pro-BTC U.S. Senator Cynthia Lummis has been selected to the Senate banking committee. She has been talking to Janet Yellen & has drawn her tactics to aid the novel Treasury Secretary & other U.S. lawmakers recognize that BTC is an excessive store of value. Lummis states that Yellen has open attention to this theme even however she presently thinks that cryptocurrencies are mostly used for illicit financing.

Senator Lummis Plans to Persuade Congress & Janet Yellen about the Benefits of BTC`

Cynthia Lummis U.S. Senator was appointed to the Banking, Housing, & Urban Affairs Committee the previous week. The committee has jurisdiction ended a variety of matters, with banking, banks, currency, federal monetary policy, & financial aid to commerce & industry. Lummis was on oath into the U.S. Senate on January 3, flattering the first woman to serve as U.S. Senator from the state of Wyoming. She before served as Wyoming state treasurer.

In an interview with Morgan Creek Digital partner Anthony Pompliano the previous week, the senator reiterated her opinion on BTC, declaring:

I see it as an excessive store of worth for individuals, corporations, & government … It is an outstanding store of value, & that it should be a share of every separate person’s investment collection.

She has ideas to educate other members of Congress about BTC. ‘A new financial innovation caucus has been designed in the Senate that will also deliberate BTC, Lummis exposed.

The pro-BTC senator also appearances onward to working with the Treasury Department to aid them to comprehend BTC. ‘I visited with Janet Yellen, the new Treasury Secretary, on the phone the other day before her validation hearing,’ Lummis shared, adding:

This is a part where I consider that she has an open mind. She has some of the same anxieties that the greatest do in financial technology. There are anxieties about criminal or nefarious usage of cryptocurrencies.

‘So, it is going to take a huge of work to get to where we can have an open discourse that is free from the clutter of sighted this knee-jerk reaction to the anxiety that all crypto is subject to criminal activity to a very big degree,’ Lummis harangued. She cited answers by blockchain analytics firm Chainalysis that only 0.34% of all cryptocurrency transactions previous year were connected to criminal activities.

Yellen held during her validation hearing that cryptocurrencies are mostly used for illicit financing. She then tracked up with more comments on the topic & promised ‘effective’ cryptocurrency regulation.


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