Sen. Lummis plans to make the announcement at the annual Bitcoin Conference in Nashville, Tennessee. Republican presidential candidate Donald Trump is scheduled to speak at the event.
As Donald Trump prepares to address an estimated 20,000 bitcoin enthusiasts later this week in Nashville, Tennessee, the pro-crypto Republican Sen. Cynthia Lummis of Wyoming is also looking to make some big news, preparing to announce she's crafting new legislation that could radically alter the burgeoning crypto business by firmly establishing bitcoin as a mainstream financial asset, FOX Business has learned.
This would send the nation-state game theory into hyperdrive as sovereigns scramble to accumulate the scarcest monetary asset on planet Earth," Lyman added. A spokeswoman for Lummis had no comment for this story; a Trump campaign spokesperson did not return requests for comment. The conference, which is slated to feature other big names like MicroStrategy’s Michael Saylor, Ark Invest’s Cathie Wood, former presidential candidate Vivek Ramaswamy and independent candidate Robert F. Kennedy Jr.
Lummis herself is a bitcoin investor. She has been referred to as the Senate’s "Crypto Queen,'' and is a proponent of using bitcoin to strengthen the country’s financial position. In 2022, she floated the idea of diversifying the Fed’s $40 billion worth of foreign currencies with bitcoin, highlighting that the asset’s decentralized nature would make it more "ubiquitous" over time.
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