U.S. Senator Cynthia Lummis says she loves that bitcoin can’t be stopped and that governments can’t simply confiscate the cryptocurrency. “It’s truly comforting to know that bitcoin is there,” she stated, citing considerations concerning the nationwide debt and inflation.
U.S. Senator: Bitcoin Is One thing Governments Can’t Take
U.S. Senator Cynthia Lummis (R-WY) talked about bitcoin in an interview with Arduous Cash’s Natalie Brunell, printed final week.
Discussing the deserves of bitcoin, together with how the cryptocurrency can’t be stopped, the senator from Wyoming stated:
I like that it could actually’t be stopped particularly as a result of I’m involved about our nationwide debt. I’m involved about inflation.
She continued: “I see folks in my house state of Wyoming which might be going to meals banks now as a result of they want gas, they want gasoline, to get to their jobs, and so they have to decide on now between high-priced gasoline and meals so they’re going to meals banks for his or her meals.”
The senator additional detailed: “So after we see issues which might be inflationary, after we see the worth of a greenback drop whenever you go to the grocery retailer and also you come out with one sack of meals and used to for a similar worth come out with two, we actually want to take a look at belongings which might be going to be there for the long run.” She famous:
That’s why to me it’s truly comforting to know that bitcoin is there.
She additional defined that in some international locations the place the federal government is unstable, it could actually come to take folks’s properties and property. The senator burdened:
Bitcoin is one thing the federal government can’t take.
“For folks in overseas international locations which might be residing in locations which might be very insecure, that’s positively a backstop and one thing that they will comfortably go to mattress at evening and comprehend it’s going to be there within the morning,” the senator opined.
The senator from Wyoming launched a crypto bill titled “Lummis-Gillibrand Accountable Monetary Innovation Act” in June with Senator Kirsten Gillibrand (D-NY).
Offering an replace on the invoice, Lummis described, “it is a very complete piece of laws, in all probability too complete given the time remaining in 2022 for the invoice to move.” She added: “However what that does is give us extra time to get extra enter on the invoice, and we need to embrace that. We wish folks to offer further enter and concepts and ideas.”
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