Wyoming’s First Female Senator To Discuss Cryptocurrency In The Senate
Cryptocurrencies continue to get media attention, support and mainstream adoption by individuals, investors and even former critics. In the case of Cynthia Lummis, the first democratically elected female Senator from Wyoming who is set to resume office on 3rd January 2021, she has been a firm admirer of digital assets, and now she’s willing to spread the gospel of the blockchain space to her colleagues in the Senate when she resumes office. Cynthia expressed her intention during a podcast with ‘What Bitcoin Did’, and further added that crypto education is necessary to help the adoption of cryptocurrencies.
Cynthia’s intention is backed by her state Wyoming
In the podcast, Cynthia talks about her state, Wyoming, who had ensured to create a regulatory framework for digital assets. She believes that Wyoming has become one of the leading states in the country who is leading the adoption of Bitcoin and other cryptocurrencies. The banks in the state have a policy in place that allows them to handle cryptocurrency-related transactions, a move Cynthia feels that put the state as a leader in policy toward BTC and Cryptocurrencies.
The newly-elected Senator also feels that the fear which has been expressed by people in the past towards BTC can be overcome with proper education, something which is now in her top agenda when she resumes office. Cynthia stresses that an understanding of the difference between fiat and cryptocurrencies will allow people to appreciate the value of Cryptocurrencies.
Inflation should push for cryptocurrency adoption
Cynthia Lummis has criticized the role of the government in increasing inflation by printing money. The Senator believes that the decreasing power of the USD is frustrating people who rely on savings. She believes that Bitcoin and cryptocurrencies provide a more stable value to people who are either saving now or to live comfortably in the future. The price volatility of cryptocurrencies is a factor she considers too. Still, she believes that the growth experienced by Bitcoin, Ethereum and a few other digital assets in the past year should be enough to sway peoples attention to it.
The newly-elected Senator has also announced that popular BTC admirer and investor, Tyler Lindholm will be partnering with her to execute her plans. Tyler Lindholm is also a member of the Wyoming House of Representatives and will be joining her team as a Policy Director. In the past, Tyler Lindholm has been an avid supporter of several cryptocurrency initiatives and policy in the state of Wyoming. A few of the policies Tyler Lindholm had raised support for in the past include, The Utility Token Act and the Digital assets-existing bill.
Cryptocurrencies continue to get not only attention but favourable policies in many parts of the world and even in the United States. News reported in November confirmed that New Jersey implemented the Digital Asset and Blockchain Technology Act. A policy intended to provide a clear regulatory structure for crypto companies operating in the state.