2024

Bank

Bitcoin

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<ul>
 <li>Senator Lummis proposes Bitcoin reserves to boost the US dollar’s strength and ensure financial independence for Americans.</li>
 <li>Lummis firmly opposes CBDCs, citing concerns over government surveillance and promoting individual Bitcoin wallets for sovereignty.</li>
 <li>Known as the “Crypto Queen,” Lummis advocates for digital assets, envisioning a strong regulatory framework to foster innovation.</li>
</ul>
<p>US Senator Cynthia Lummis has proposed that the United States consider holding Bitcoin reserves as a strategy to boost the strength of the US dollar. In a recent interview, she emphasized the importance of individual Bitcoin wallets and rejected the concept of <a href="https://www.imf.org/en/Topics/fintech/central-bank-digital-currency/virtual-handbook" rel="noopener noreferrer nofollow">Central Bank Digital Currencies (CBDCs)</a>, citing concerns over financial surveillance.</p>
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   <p lang="en" dir="ltr">NEW: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Senator Cynthia Lummis says the US holding <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> in reserves can help the dollar remain strong <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br> <a href="https://t.co/L95IKt8TWe" rel="noopener noreferrer nofollow">pic.twitter.com/L95IKt8TWe</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1811774811879710871?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2024</a>
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<p><strong>Advocacy for Bitcoin Wallets and Financial Sovereignty</strong></p>
<p>Lummis stressed the need for Americans to have personal Bitcoin wallets, highlighting that this would allow individuals to <a href="https://cryptonewsland.com/senators-lummis-and-gillibrand-introduce-stablecoin-regulation-new-bill/" rel="noopener noreferrer nofollow">maintain sovereignty</a> over their money. She firmly opposes CBDCs, describing them as tools for government surveillance.&nbsp;</p>
<p>Ensuring that people can control their Bitcoin free from interference, Lummis argued, is critical to financial independence. This, according to Lummis, could make the dollar even stronger with respect to other global currencies if Bitcoin were actually adopted by its financial system. She says that holding Bitcoin reserves may help preserve the US dollar.&nbsp;</p>
<p><strong>Contrasting Views on Digital Currencies</strong></p>
<p>Lummis’s position on <a href="https://cryptonewsland.com/senators-lummis-and-wyden-criticize-bidens-approach-to-bitcoin-software-regulations/" rel="noopener noreferrer nofollow">digital currencies is a contrast</a> to the US regulatory space as it exists today. The vagueness of US rules has been challenged by many prominent figures in the crypto space.&nbsp;</p>
<p>Lummis anticipates reforms that will provide a more advantageous legal environment for digital assets, encouraging innovation and industry expansion. Her support for financial innovation and the defense of personal financial sovereignty in the digital era is indicative of a larger movement.</p>
<p>On Capitol Hill, Lummis is known as the “Crypto Queen” and has made no secret of her enthusiasm for digital assets. She explained her goals on the X platform, stating that she opposes retail CBDCs, that she will defend the self-custody of Bitcoin wallets, and that she wants to make the dollar the dominant currency again in the twenty-first century.</p>
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   <p lang="en" dir="ltr">Bitcoin and digital assets are the future.&nbsp;Here’s my agenda:<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;">&nbsp;No&nbsp;retail&nbsp;Central Bank Digital Currencies<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;">Clear protections for self-custody Bitcoin wallets<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;">Restore Dollar Dominance for the 21st&nbsp;Century <a href="https://t.co/yEy9tcxU5b" rel="noopener noreferrer nofollow">pic.twitter.com/yEy9tcxU5b</a></p>— Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1811747346172248262?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2024</a>
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<p><strong>Future of Digital Assets</strong></p>
<p>Lummis believes that digital assets, including Bitcoin, are the future of finance. She hopes that the US will adopt policies that support the growth and integration of these assets into the financial system. Her recent statements show her commitment to ensuring that Americans can have secure, sovereign control over their finances in the digital era.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/cynthia-lummis-is-still-bulish-on-bitcoin/" rel="noopener noreferrer nofollow">Cynthia Lummis is Still Bulish on Bitcoin</a></li>
 <li><a href="https://cryptonewsland.com/u-s-senator-cynthia-lummis-leads-charge-for-the-first-bitcoin-president/" rel="noopener noreferrer nofollow">U.S Senator Cynthia Lummis leads charge for the first Bitcoin president</a></li>
 <li><a href="https://cryptonewsland.com/senators-lummis-and-wyden-criticize-bidens-approach-to-bitcoin-software-regulations/" rel="noopener noreferrer nofollow">Senators Lummis and Wyden Criticize Biden’s Approach to Bitcoin Software Regulations</a></li>
 <li><a href="https://cryptonewsland.com/senator-cynthia-lummis-files-support-for-coinbase-to-junk-sec-lawsuit/" rel="noopener noreferrer nofollow">Senator Cynthia Lummis Files Support for Coinbase to Junk SEC Lawsuit</a></li>
 <li><a href="https://cryptonewsland.com/senator-lummis-advocates-for-bitcoin-mining-in-the-u-s/" rel="noopener noreferrer nofollow">Senator Lummis Advocates for Bitcoin Mining in the U.S.</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/senator-cynthia-lummis-advocates-for-bitcoin/" rel="noopener noreferrer nofollow">Senator Cynthia Lummis Advocates for Bitcoin Reserves to Strengthen the US Dollar</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Senator Cynthia Lummis Advocates for Bitcoin Reserves to Strengthen the US Dollar

Crypto News Land

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