Senator Lummis says crypto will play important role in US economy post-elections

Senator Cynthia Lummis precocious said the crypto marketplace volition play a important relation successful the US system unless the accidental is squandered.

Lummis, a vocal advocator for pro-crypto legislation, believes that caller victories successful Congress awesome a promising aboriginal for the sector.

In caller years, pro-crypto lawmakers similar Lummis person worked tirelessly to amended their colleagues astir integer assets. She said successful a societal media station connected May 29:

“When I came to the US Senate, cipher knew thing astir integer assets, nary 1 knew the quality betwixt Bitcoin (BTC) and alternate coins. So we’ve worked hard to amended members of the Senate.”

Lummis, alongside Senator Kirsten Gillibrand and others, has established a fiscal innovation caucus and a model for managing the crypto sector.

She emphasized Bitcoin’s relation arsenic a store of worth and a means of exchange, which has contributed to its increasing adoption globally. Factors specified arsenic ostentation person driven users to Bitcoin arsenic a hedge and a store of value.

Lummis besides highlighted the expanding consciousness astir Ethereum, which she described arsenic a blockchain susceptible of supporting galore applications.

The US crypto marketplace has made important advancement recently, including the SEC’s support of spot Bitcoin and Ethereum ETFs. Additionally, aggregate pro-crypto bills person besides precocious successful caller weeks, indicating a much favorable regulatory situation and bipartisan cooperation.

One notable legislative occurrence is the House of Representatives’ support of the Financial Innovation and Technology for the 21st Century Act (FIT21), which saw immoderate Democrats transverse enactment lines successful support.

Additionally, the Senate voted to overturn Gary Gensler’s Staff Accounting Bulletin No. 121 (SAB 121), easing the way for banks to go crypto custodians.

As the upcoming US Presidential elections gully near, the communicative astir crypto continues to evolve, with optimism precocious for further advancement and integration of integer assets into the economy.

The station Senator Lummis says crypto volition play important relation successful US system post-elections appeared archetypal connected CryptoSlate.