Senator Cynthia Lummis on Regulation, Excessive Spending, and Bitcoin 2021

Senator Cynthia Lummis spoke about the U.S. government’s stance on Bitcoin and her upcoming appearance at the Bitcoin 2021 conference.

Lummis will speak during the Bitcoin 2021 conference in Miami on June 4th and 5th. Make sure you now set a reminder for the Bitcoin 2021 YouTube livestream day one and one for the Bitcoin 2021 YouTube livestream day two.

The last time I spoke to Cynthia Lummis in November 2020, she was just the first woman to represent Wyoming in the U.S. Senate. And she was also just the most outspoken bitcoiner ever elected to this office.

“Our own currency is inflated on purpose, by about 2% a year, give or take,” she told me at the time. “Bitcoin naturally doesn’t do that. For those of us looking for a whole range of ways to secure ourselves financially, be it in the stock market … or through something that stores value, something that is scarce like Bitcoin, you want a diverse mix. and I firmly believe that Bitcoin belongs in this mix. “

Now, five months after her tenure in the Senate, Lummis has had the opportunity to work with her colleagues to examine how Bitcoin can fit into the country’s portfolio and future plans.

“We’re launching the Financial Innovation Caucus on May 26th, and I’m very excited to see the strong bipartisan group of Senators who have joined this caucus,” Lummis said in a recent interview. “I also had a number of productive and encouraging conversations with the Biden government officials at the major agencies that regulate digital assets such as Bitcoin. This area is new and unknown and my team is working with them to bring digital assets into the American financial system. “

For example, it sponsored an amendment to the Endless Frontier Act that added blockchain technology to a list of technology priorities for federal strategies.

I think the more the United States explores distributed ledger technology, the more people will see its incredible potential, ”Lummis said. “I only see positive things here from more research and understanding.”

Of course, the first few months of Lummis’ tenure were marked by the election of Joe Biden, new appointments to the country’s financial regulators, and aggressive economic stimulus laws. Given that Lummis has long been preoccupied with dollar inflation, so far it has done the job for them.

“My primary focus is working with the Federal Reserve, the Securities and Exchange Commission, and others to ensure that all regulations for new types of banks and digital assets encourage, rather than stifle, innovation,” said Lummis. “I’ve been an opponent of excessive government spending for a long time, and that hasn’t changed – that was one of the main reasons I opposed the American bailout, for example. I will continue to do this while maintaining relationships with the Biden administration officers at these regulators. “

Lummis will take the stage at the upcoming Bitcoin 2021 conference with fellow Congressman Warren Davidson to discuss these efforts and the future of Bitcoin in relation to the US government.

“Warren and I worked together in the US house,” said Lummis. “The congressional calendar is very busy and I look forward to a long overdue and uninterrupted conversation with him about how we can work together to bring the US financial system into the 21st century.”

Finally, I had to catch up with Lummis about a bold suggestion that came up in our last conversation: She mentioned that the Federal Postal Employees’ pension fund should be among the first federal funds to invest in Bitcoin.

So has Lummis made any progress in getting U.S. postal workers to adopt a Bitcoin standard?

“Ha! Right now we’re focused on education, but if you look at Florida there is a certain mayor down there who wants to enable city workers to get their salary in Bitcoin which is an innovative place to start” “Lummis replied, referring to Miami Mayor Facis Suarez’s work.” Good government experimentation often leads to federal politics, so we’ll see where his efforts end.

Lummis will share her progress so far and her future plans, her US government colleagues during the Bitcoin 2021 conference in Miami on the 4th and a YouTube live stream for Bitcoin 2021 day two now.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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