U.S Sen. Cynthia Lummis stated in an interview that she finds bitcoin as a great digital asset to be utilized by the government, corporations, or individuals at large. She also termed bitcoin as an “excellent store of value” and suggested that trading in bitcoin is undoubtedly a good prospect for any individual.
Cynthia Lummis was recently assigned her position in the Banking, Housing, and Urban Affairs Committee. The committee has legal province over multiple issues relating to banking, currency, monetary policy, and financial support to industry and commerce. On 3rd January Lummis swore her role as the United States Senator of Wyoming state. Previously Lummis had served as the state treasurer of Wyoming.
Cynthia Lummis Is Set To Have Discussion With Congress Members
Bitcoin supporter Lummis also declared her plans to inform her fellow Congress members about the digital currency. She is eager to work with the Department of Treasury about BTC. Lummis had a discussion with Treasury Secretary Janet Yellen recently. She also added that Janet Yellen is open-minded about bitcoin but has common concerns about financial technology. She wants to negotiate on the probable misuse and fraud of cryptocurrencies.
Lummis said in the interview with Anthony Pompliano, founder and partner of Morgan Creek Digital, that there are high assumptions and concerns about criminal activities regarding the cryptocurrency market which need to be openly discussed and understood.
She also informed that the data released by Chainalysis show that approximately 0.34% of the total transactions of cryptocurrency have been subjected to fraudulent activities last year.
Janet Yellen had stated in her hearing that fraudsters largely manipulate cryptocurrencies for unlawful activities. She later addressed the subject with more details with a promise for better regulation of digital currencies.
In this regard, Cynthia Lummis is optimistic that an open discussion will help to clarify conceptions about bitcoin and crypto finance to a great extent.
