U.S. Senator Cynthia Lummis has been appointed as the chair of the ‘Senate Banking Subcommittee on Digital Assets’, which will be crucial in ensuring that Congress passes the bipartisan bill to create Bitcoin Strategic Reserve legislation. The announcement was made on Thursday on Cynthia’s official X handle wherein she expressed her gratitude for being assigned the responsibility of “shepherding” the bipartisan legislation at the earliest.
A senator from Wyoming, Lummis has been vocal about her pro-crypto stance and had campaigned for a strategic bitcoin reserve during the 2024 U.S. presidential elections. The decision by Trump administration to appoint Senator Lummis as the head of the subcommittee shows the kind of importance she holds in the current U.S. government.
“Digitals assets are the future and if United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets and that strengthens the U.S. dollar with a strategic bitcoin reserve,” said Lummis in a statement on X.
In her statement, Lummis expressed her commitment to the design of a proper legal framework for cryptocurrencies.
The senator also plans to include Bitcoin in a strategic reserve, such as oil and other national reserves, to stimulate the economy and stabilize the financial markets, and this position is a stepping stone to achieving this milestone. As chair of a subcommittee, Lummis will also assist in brokering negotiating discussions regarding rules for digital assets.
Also Read: U.S. to Acquire 1 Million Bitcoins in 5 Years: Cynthia Lummis Bitcoin Act
