Wyoming Senator Cynthia Lummis, a Bitcoiner, to Serve on Banking Committee
Through her role, Lummis will work on ensuring “that regulation of digital assets are structured to encourage innovation, instead of stifling it.”
Senator Cynthia Lummis of Wyoming has been assigned to the Banking, Housing, and Urban Affairs Committee, which has the most jurisdiction over cryptocurrency and commerce issues.
The first Senator to own Bitcoin is also named to the Environment and Public Works Committee; and the Commerce, Science, and Transportation Committee. This will position her to advocate for financial innovation, rural telecommunications, transportation issues, and natural resources. Lumis said,
“Wyoming has been leading the way on financial innovation over the last several years. Through my role on the Banking Committee, I hope to shine a light on many of these pioneering efforts and work with federal regulators to ensure that regulation of digital assets are structured to encourage innovation, instead of stifling it.”
Sen. Lummis previously served as a state treasurer of Wyoming, and it was around this time while looking for a store of value that she got into Bitcoin.
In a recent interview, she called Bitcoin an “excellent store of value,” despite its volatility and that it should be part of every individual person's investment portfolio because “the dollar is designed to be worth less every year,” she said.
While Lummis came for Bitcoins’ use as a store of value, she is staying for censorship resistance. She wrote on Twitter earlier this week,
“I’m forming a caucus here in the Senate to help educate my colleagues & leaders in DC on the importance of financial innovation for our economy, national security & continued U.S. leadership in world markets.”