Powerful Bipartisan Support For Crypto In Congress, Says Senator Lummis

Key Points:

• Senator Lummis perceives bipartisan support for crypto.
• Lummis’ actions indicate growing acceptance of cryptocurrencies in Congress.

US Senator Cynthia Lummis, a Bitcoin advocate, asserts bipartisan support for cryptocurrencies. She’s optimistic about future crypto-friendly laws.

US Senator Cynthia Lummis says she feels positive about the future of cryptocurrency legislation. The known Bitcoin advocate in Congress recently stated that there’s bipartisan support for digital assets in both parties, signaling a promising future for cryptocurrency.

Lummis has been very instrumental in the strides being made in promoting cryptocurrency within Congress. She is the founder of the Financial Innovation Caucus, tasked with the responsibility of educating fellow Senate members about the potential behind digital currencies.

Bipartisan Support For Cryptocurrencies

In 2021, Lummis made headlines for purchasing Bitcoin valued between $50,001 and $100,000, exhibiting her personal investment in the future of this digital asset.

Her actions seem to suggest that a growing acceptance and endorsement of cryptocurrencies by US lawmakers could be in the offing, paving the way for more cryptocurrency-friendly laws and regulations.

The future of cryptocurrency has been a topic of fierce debate among lawmakers, financial experts, and the public. Some treat it as a hazardous investment, while others consider it a technological revolution with the potential to change the course of the global financial system.

Readmore: SEC Leans Toward Spot Ethereum ETF Approval: Report

Lummis Criticizes Department of Justice’s Actions

Lummis’ comments suggest a more mainstream movement towards the latter view among most of the US lawmakers, hence opening the door for cryptocurrencies to find wider adoption in the US and globally.

Earlier this month, Lummis has taken to Twitter to criticize the actions of the Department of Justice—specifically, its assertion that non-custodial software can be considered a money transmission service.

Lummis says she will do all in her power to protect the rights of individuals to control their own keys and nodes while chastising attempts to criminalize key aspects of the Bitcoin network and decentralized finance.