State of Change with US Senator Cynthia Lummis at Bitcoin 2023

US Senator Cynthia Lomas, known for her unwavering support of digital assets, has been actively working towards creating a regulatory framework that promotes innovation. She was interviewed by Perianne Boring, CEO of the Chamber of Digital Commerce, at Bitcoin 2023.

Here are the key takeaways from the discussion:

1. Senator Lummis is a strong advocate for Bitcoin adoption in the United States and believes that Bitcoin aligns with American values of freedom, property rights, personal responsibility, and ownership.
2. There are multiple bills related to digital assets, Bitcoin, and blockchain technology being introduced in Congress, aiming to provide regulatory oversight and establish a legal framework for the industry.
3. Senator Lummis plans to reintroduce the Responsible Financial Innovation Act, a comprehensive bill covering various aspects of digital asset policy and regulatory oversight.
4. Collaboration is taking place between the House Financial Services Committee and the Senate to work on legislative proposals and resolve differences in regulating digital assets.
5. The senator emphasizes the importance of not inhibiting innovation in the blockchain space while ensuring consumer protections and disclosures.
6. She raises concerns about a proposed 30% tax on Bitcoin mining activity. Senator Lummis believes it is unlikely to happen, but highlights the importance of Bitcoin mining operations in the United States for national and energy security.
7. Pushing innovation overseas and not building the Bitcoin ecosystem in the United States could have implications for national security, as Bitcoin is expected to be a significant part of the global digital economy.

Overall, Senator Lummis supports Bitcoin adoption and emphasizes the need for responsible regulation that fosters innovation. She sees Bitcoin as a currency that can provide financial and national security benefits.