No Announcement on Bitcoin as Strategic Reserve by Senator Lummis at Nashville Bitcoin Conference
Crypto-friendly Senator Cynthia Lummis did not unveil legislation that would establish Bitcoin as a strategic reserve asset for the United States during her speech at the Bitcoin 2024 conference in Nashville.
Lummis, who was expected to deliver a speech at the conference, shared the stage with Senator Tim Scott.
Despite widespread speculation, her address did not include the anticipated unveiling of legislation that would establish Bitcoin as a strategic reserve asset.
During her presentation, the Wyoming Senator criticized the Securities and Exchange Commission for its enforcement-centric approach to industry regulation, emphasizing the importance of a legal framework over arbitrary actions.
She redirected the conversation towards governmental monetary control and highlighted the Republican Party’s revised stance on safeguarding digital asset ownership and custody.
Describing Bitcoin as “freedom money,” Senator Lummis underscored its role in granting individuals financial sovereignty, from the most economically disadvantaged to prominent figures like Michael Saylor.
Both Lummis and Scott also touched upon the vital role played by the Bitcoin mining sector in exploring innovative energy solutions and fortifying the nation’s critical energy infrastructure, a recurring theme throughout the conference.
Leading up to the Bitcoin 2024 conference, speculations ran high about a potential announcement from Senator Lummis regarding legislation that could designate Bitcoin as a strategic reserve asset.
At the time, a source familiar with the initial drafts of the legislation indicated that the bill aims to direct the Federal Reserve to purchase and hold Bitcoin similarly to how it manages gold and foreign currencies.
Figures like Mark
Read more on cryptonews.com
