US lawmaker Cynthia Lummis, a Republican member of the Senate, voiced her support for Bitcoin and its many benefits in a stressed global economy.
The recently held Bitcoin 2023 event witnessed a slew of speakers voicing their opinions on crypto. A US lawmaker stood out amongst them with her strong support for Bitcoin. Senator Cynthia Lummis, who was in Miami recently for Bitcoin 2023, spoke on Bitcoin along with Perianne Boring, the Chamber of Digital Commerce’s founder and CEO.
She highlighted several issues, including the current US debt situation, crypto regulations, and the benefits of Bitcoin. Speaking on the economy of the United States, she was of the view that increasing the debt ceiling could increase the country’s interest payments to cross their defense budget, which could be harmful to the economy. She termed it as a national security issue.
A crypto bill drafted by Lummis and Senator Kirsten Gillibrand could help the sector, according to her, but they were awaiting the outcomes of the stablecoin bill recently introduced in the House. Lummis was positive about the future of the bill and that it could positively help the crypto sector.
While Boring came up with the topic of crypto taxes, Lummings was quick to dismiss the same and state how several members of Congress were supporting a fair crypto regulation that would be implemented after a discussion with the industry.
The US lawmaker spoke on how Bitcoin would help the environment, reflecting on Bitcoin mining’s efficiency during the drilling of oil and gas wells, “Well, while that’s being vented, you can pull a Bitcoin mining operation in a trailer, use the vented methane gas to mine your Bitcoin, and you are preventing that gas from being vented into the atmosphere.”