Bitcoin

Senator Cynthia Lummis Reveals $100,000 Investment in Bitcoin

Crypto U.S. Senator Cynthia Lummis, a Republican from Wyoming, announced that she purchased $ 50,001 to $ 100,000 in Bitcoin (BTC) on Aug. 16, according to documents filed Thursday.

The disclosure is part of the Congressional Knowledge Stopping Trading Act, or STOCK, which prohibits the use of non-public information for profit. The STOCK Act came into effect in April 2012 under the Obama administration and aims to combat insider trading.

As reported by CNBC, the Lummis purchase was announced outside of the 45-day reporting period stipulated by law. The spokesman said the reporting delay was due to a “filing error”.

Lummis’ made the purchase less than two weeks after she and other senators tried to incorporate a pro-crypto change into President Biden’s infrastructure bill. The bipartisan effort, supported by Senators Mark Warner and Kyrsten Sinema, sought to ease the burden of crypto tax reporting on miners and wallet providers.

Controversial, Lummis’ amendment failed to make it into the Infrastructure Bill, which was passed by the Senate on Aug. 10. Senator Pat Toomey, a Republican from Pennsylvania, called the bill “seriously flawed” for imposing an “unenforceable” tax return on certain crypto companies.

The bill, called the Infrastructure Investment and Jobs Act, has yet to be voted on by the House of Representatives due to an adjourned process, according to the latest update dated October 1.

Related: The infrastructure bill hangs in the balance. What does the issue mean for cryptocurrencies?

Lummis’ BTC purchase is hardly surprising given their staunch pro-crypto stance. As Cointelegraph reported, the Wyoming senator had previously expressed an interest in buying dips after Bitcoin price fell below $ 30,000. While it’s not entirely clear whether she owned Bitcoin at the time, the senator told Fox News in June, “I’m really excited because right after it kept falling.

.

.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

29 minutes ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

1 hour ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

1 hour ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

2 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

3 hours ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

4 hours ago

This website uses cookies.