Home Bitcoin Sen. Lummis continues to be “very completely satisfied” with Bitcoin in his retirement plans

Sen. Lummis continues to be “very completely satisfied” with Bitcoin in his retirement plans

Sen. Lummis continues to be “very completely satisfied” with Bitcoin in his retirement plans

Professional-crypto United States Senator Cynthia Lummis has remained steadfast in her help for Bitcoin (BTC) as a part of diversified retirement plans, regardless of different calls from her fellow senators.

From the seems of it, Lummis seems to be simply one of many few overtly crypto-friendly politicians in the US, and has notably championed progressive crypto regulation alongside Senator Kirsten Gillibrand.

Chatting with on-line information outlet Semafor on Dec. 12, Lummis defined that the crypto winter hasn’t shaken her resolve concerning BTC and that she would nonetheless prefer to see the asset in United States 401(ok) pension plans:

“I am very snug ensuring folks can put bitcoin of their retirement plan as a result of it is simply completely different than different cryptocurrencies.”

What she wasn’t certain about, nonetheless, was the rest – suggesting that the “jury continues to be out on different cryptocurrencies.”

“Personally, I consider bitcoin will go up as a result of solely 21 million bitcoin will likely be mined,” Lummis stated, including that that is “a private perception based mostly solely on its shortage.”

These feedback signify a barely completely different stance than what she initially outlined on retirement plans in June 2021.

On the time, she had vouched for the inclusion of different particular cryptos, nonetheless, it seems that the crypto winter and up to date FTX debacle might have barely modified her thoughts.

“I’d additionally prefer to see people having the ability to use bitcoin and cryptocurrencies of their selection which can be safe and have handed anti-money laundering and banking secrecy hurdles,” she stated.

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Elsewhere on Capitol Hill, Senators like Elizabeth Warren, Tina Smith and Richard Durbin have as an alternative used the current market turmoil to reiterate their requires Constancy Investments to retire its BTC-pegged 401(ok) annuity product.

In a Nov. 21 letter to Constancy CEO Abigail Johnson, the three senators highlighted the FTX debacle as a key motive to maneuver away from providing BTC publicity to pension plans.

“As with all monetary merchandise, value volatility is an anticipated function of the market — and it is short-sighted to suppose that setbacks in an business are a sign that it will not see long-term development,” stated Jonah Allon, a spokesman for Adams.

Different senators have taken a damaging view of crypto currently, with Sen. Jon Tester stating earlier this week that he sees “no motive” why crypto ought to even exist. Whereas Senator Warren enthusiastically famous that “lastly extra persons are blowing the bullshit whistle”.


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