US Senator Lummis Speaks

Sen. Cynthia Lummis might have had a hand in the so-called Trump bump from Nashville on Saturday when she mentioned legislation for the U.S. government to hold bitcoin as a strategic reserve asset. Between the lines: Folks started fever dreaming about all the buying — but one economist tells Axios the proposal isn't as daffy as it immediately seemed, and would involve only enough capital to finance the purchase of 1 million bitcoin. Zoom in: The Cato Institute's George Selgin worked out the mechanics of what Lummis proposed and got ...

Sen. Cynthia Lummis (R-Wyo.) predicted at a gathering of original cryptocurrency fans Friday that Sen. Tim Scott (R-S.C.) would chair the Senate Banking Committee if Republicans took control of the Senate in this upcoming election. Why it matters: That would mean a shift in the vision for regulation of all sorts of financial matters, particularly the $1.3 trillion Bitcoin economy, which Scott promised to treat with a "light touch." State of play: The two senators took the stage in Nashville to say the main problem for Bitcoin in the ...

Wyoming Senator Cynthia Lummis is set to introduce a groundbreaking Bitcoin Reserve Bill at the Nashville Bitcoin Conference. This proposed legislation aims to mandate the Federal Reserve to hold Bitcoin as a strategic reserve asset, akin to gold. The goal is to integrate Bitcoin into the US financial system, potentially stabilizing the value of the US dollar. This bold move could signify a significant shift in US monetary policy and has the potential to reshape the financial landscape. The specifics of the bill are anticipated to be ...

The collapse of crypto exchange FTX highlights the need for Congress to "learn more" about cryptocurrency, said Sen. Cynthia Lummis (R-WY), known as the "Bitcoin Senator" for her cryptocurrency advocacy on Capitol Hill. Lummis, who introduced the bipartisan Responsible Financial Innovation Act alongside Kirsten Gillibrand (D-NY) earlier this year, spoke in a pre-recorded interview at the Financial Times' Crypto and Digital Asset Summit. Asked whether recent events involving the downfall of FTX—whose former CEO Sam Bankman-Fried was a ...

The recent meltdown of cryptocurrency exchange FTX is not something that could have happened in Wyoming, Sen. Cynthia Lummis told Cowboy State Daily. She believes the demise of FTX — which filed for bankruptcy and reports more than $1 billion of clients’ money is missing — could breathe new life into a federal bill she has cosponsored that models Wyoming’s regulatory system. “What the nation should do is take stock of what Wyoming has done so well and adopt a regulatory regime that is a lot like Wyoming’s,” Lummis said. Wyoming laws ...

A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the US Senate, according to one of the lawmakers driving the effort. Wyoming Senator Cynthia Lummis said on Tuesday that the full bill she released last month with Democrat Kirsten Gillibrand would probably not be considered until next year. The lawmakers said various Senate committees, which first need to first green-light aspects of the proposal, could advance pieces of the plan ...