United States Senator Cynthia Lummis has strongly advocated for Bitcoin’s role as ‘freedom money,’ emphasizing its inherent scarcity and decentralized nature as key virtues.
Her advocacy coincides with legislative efforts including a new cryptocurrency tax proposal. This bill would exempt small transactions under $300 from taxation, aiming to make digital assets like Bitcoin more practical for everyday purchases.
Further supporting Bitcoin’s potential integration into national strategy, Senator Lummis has backed the BITCOIN Act. This significant legislation proposes that the U.S. government acquire up to 1,000,000 Bitcoin over a five-year period to add to its national reserves.
Senator Lummis links Bitcoin’s growing appeal to its capacity for promoting financial independence. She sees the cryptocurrency as a tool to counteract central bank overreach, a perspective gaining traction among other policymakers.
These combined efforts underscore Senator Lummis’s commitment to strategically integrating Bitcoin into the U.S. financial framework. Her legislative work focuses on establishing clear regulatory definitions and advancing practical proposals like bolstering national reserves with Bitcoin.