Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
US Senator Says ‘I Love That Bitcoin Can’t Be Stopped’ Citing Concerns About National Debt And Inflation – Regulation Bitcoin News
US Senator Cynthia Lummis says she loves that bitcoin can’t be stopped and that governments can’t just confiscate the cryptocurrency. “It’s actually comforting to know that bitcoin is there,” she said, citing concerns about the national debt and inflation.
US Senator: Bitcoin is something governments can’t take
US Senator Cynthia Lummis (R-WY) talked about bitcoin in an interview with Hard Money’s Natalie Brunell, published last week.
The Wyoming senator discussed the benefits of bitcoin, including how the cryptocurrency is unstoppable:
I love that it can’t be stopped, especially because I’m worried about our national debt. I am concerned about inflation.
She continued: “I see people in my home state of Wyoming going to food banks now because they need fuel, they need gas, to get to their jobs, and they have to choose now between high-priced gas and food, so they go to food banks for their food.”
The senator further detailed: “So when we see things that are inflationary, when we see the value of a dollar go down when you go to the grocery store and you come out with a bag of food and used to come out with a bag for the same price. two, we really need to look at assets that are going to be there for the long term.” She noted:
Therefore, it is actually comforting to me to know that bitcoin is there.
She further explained that in some countries where the government is unstable, it can take people’s homes and property. The senator emphasized:
Bitcoin is something the government cannot take.
“For people in foreign countries who live in places that are very insecure, it’s definitely a backstop and something that they can comfortably go to bed at night knowing it’s going to be there in the morning,” the senator said.
The Wyoming senator introduced a crypto bill titled the “Lummis-Gillibrand Responsible Financial Innovation Act” in June with Sen. Kirsten Gillibrand (D-NY).
Providing an update on the bill, Lummis described, “this is a very comprehensive piece of legislation, probably too comprehensive given the time left in 2022 for the bill to pass.” She added: “But that gives us more time to get more input on the bill, and we want to embrace that. We want people to give additional input and ideas and thoughts.”
What do you think of Sen. Cynthia Lummis’ comments? Let us know in the comments section below.
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