Senator Says Bitcoin Will be Vital to US Economy Post-Election
United States Senator Cynthia Lummis has recently expressed the vital role that Bitcoin and other cryptocurrencies will play for the US economy. Indeed, Lummis took to X (formerly Twitter) to discuss the asset class and its growing value in the modern financial sector.
Lummis shared the efforts that she and other lawmakers have made in order to educate the Senate on digital assets. Moreover, she noted that those efforts have culminated in the recent pro-crypto regulation that has been passed in recent weeks. However, those strides are the beginning steps; as Lummis assures, there is much further to go.
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Cynthia Lummis Discussed Bitcoin’s Growing Role in US Economy
Throughout 2024, cryptocurrencies have taken the spotlight in a more pronounced way than ever before. With the approval of both Spot Bitcoin and Ethereum ETFs this year, the asset class has become a massive part of discourse within the finance sector. Moreover, with its growing prevalence, so too is Washington’s focus on the currencies.
Now, US Senator Cynthia Lummis has shared how Bitcoin, Ethereum, and other cryptocurrencies will play a crucial role in the economy. Indeed, she noted that pro-crypto lawmakers have taken up the task of educating the Senate on the growing asset class. Subsequently, that task has resulted in passing legislation like the FIT21 crypto bill and others.
Also Read: BlackRock Now Owns the Largest Spot Bitcoin ETF in the US
There is no doubt that digital assets will be a massively important point of contention in the 2024 elections. Donald Trump has clearly displayed his pro-crypto stance. He has consistently shown respect and alignment with the community, even opting to accept digital asset campaign donations.
Alternatively, current US President Joe Biden has also continued to embrace cryptocurrencies. He recently discussed his willingness to enhance his understanding through industry cooperation in his upcoming election campaign.
There is no denying that the work of Lummis and others is largely responsible for the tonal shift taking place on Capitol Hill. That work should only magnify, as the post-election economy could see massive strides taken in regarding to cryptocurrency regulation in the country.