Senator Cynthia Lummis Voted To Chair Digital Assets Subcommittee
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Senator Cynthia Lummis has been voted in as the chair of the Senate’s Digital Assets Subcommittee. The decision, confirmed following a vote by the Senate Banking Committee earlier this morning, marks a milestone in Lummis’s career as a key advocate for cryptocurrency legislation in the United States. Cynthia Lummis has been a staunch supporter of creating a regulatory framework that supports digital assets and has tendered bills that will seek to include Bitcoin in the U.S. financial system. Cynthia Lummis To Chair Digital Assets Subcommittee After her appointment as the chair of the Digital Assets Subcommittee, Lummis said, “This is a historic opportunity.” She stressed the importance of building the political consensus that is necessary to create a set of clear rules for digital assets. This comes in the wake of the U.S. Securities and Exchange Commission (SEC) forming a Crypto Task Force under acting chair Mark Uyeda. “The United States needs to act fast to maintain its position as a global pioneer in financial innovation,” Lummis said in a statement. ”I am grateful for this opportunity and am eager to promote legislation that will help the financial health of this country.” Cynthia Lummis’s leadership in the subcommittee is anticipated to involve the elimination of the regulatory gap in cryptocurrencies, blockchain, and digital assets. She has before now maintained that putting in place such frameworks will assist in the protection of investors, innovation and the continued dominance of the U.S dollar. Strategic Bitcoin Reserve Proposal Gains Attention Rumors about the destiny of the prospective U.S. strategic Bitcoin reserve have been appearing more frequently after Lummis’s appointment. Her 2024 proposal known as the BITCOIN Act has been considered in Congress and among the broader financial community. The BITCOIN Act describes the way the U.S. Treasury can buy from 100,000 to 1…
Filed under: News - @ January 24, 2025 4:26 am