Sen. Lummis still 'very comfortable' with Bitcoin in retirement plans

Pro-crypto United States legislator Cynthia Lummis has remained steadfast successful her enactment for Bitcoin (BTC) arsenic portion of diversified status plans, contempt calls from her legislator peers otherwise.

As it stands, Lummis seems to beryllium conscionable 1 of the fewer openly crypto-friendly politicians successful the United States and has notably pushed for progressive crypto regulation alongside Senator Kirsten Gillibrand.

Speaking with online quality outlet Semafor connected Dec. 12, Lummis outlined that crypto wintertime has not shaken her resoluteness successful BTC and that she’d inactive similar to spot the plus included successful United States 401(k) status plans:

“I'm precise comfy with making definite that radical tin see Bitcoin successful their status funds due to the fact that it's conscionable antithetic than different cryptocurrencies.”

What she was not definite about, however, was everything other — suggesting that the “jury's inactive retired connected different cryptocurrencies.”

“I personally judge that due to the fact that determination are lone going to beryllium 21 cardinal Bitcoin that are mined, that Bitcoin volition spell up,” Lummis said, adding that it's “a idiosyncratic belief, conscionable based connected its scarcity.”

These comments contiguous a somewhat antithetic stance from what she initially outlined on status plans backmost successful June 2021.

At the time, she had vouched for the inclusion of different definite cryptos, however, it appears that crypto wintertime and the caller FTX debacle whitethorn person shifted her opinions slightly.

“I’d besides similar to spot individuals beryllium capable to usage Bitcoin and cryptocurrencies of their penchant that are safe, that person met the hurdles of anti-money laundering and Bank Secrecy Act,” she said.

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Elsewhere connected Capitol Hill, senators see Elizabeth Warren, Tina Smith and Richard Durbin alternatively person utilized caller marketplace turmoil to reiterate their calls for Fidelity Investments to upwind backmost its BTC-linked 401(k) status product.

In a Nov. 21 missive addressed to Fidelity’s CEO Abigail Johnson, the 3 senators highlighted the FTX debacle arsenic a large crushed to measurement distant from offering BTC vulnerability successful status plans.

“As with each fiscal products, terms fluctuations are an expected diagnostic of the marketplace — and it is shortsighted to judge that setbacks successful an manufacture are an denotation that it won’t acquisition semipermanent growth,” said Jonah Allon, a property caput for Adams.

Other senators person been negatively piling successful connected crypto of late, with Senator Jon Tester stating earlier this week that helium sees “no crushed why” crypto should beryllium astatine all. While legislator Warren enthusiastically stated that “finally, determination are much radical blowing the bullshit whistle.”