Wyoming Senator Lummis: Fed Reserve Should Buy Bitcoin
Speaking at a webinar hosted by the Orrin G. Hatch Foundation, Wyoming pro-Bitcoin senator, Cynthia Lummis, said that the U.S. Federal Reserve should be stacking up on Bitcoin (BTC).
When asked about the Fed purchasing Bitcoin, the Senator noted it would be a good idea with the right regulation in place:
“I think it’s a great idea, to be honest, and I think that once there is a statutory and regulatory framework, that will make a lot of sense. The fact that it is completely decentralized is going to make it over time more ubiquitous, and I think it’s going to be something that the Fed should hold on its balance sheet.”
Lummis also spoke about upcoming crypto legislation and in specific a draft bill that is created. The bill would call for a self-regulatory organization between the Securities and Exchange Commission and the Commodity Futures Trading Commission with the responsibility to “make some of the initial calls on whether something’s a commodity or a security.” Lummis commented:
“You’ll see, I think, just in the coming weeks, some legislation rollout that’s really comprehensive. We began in December, sending our bill draft around for comment quietly among regulators and among people in the Bitcoin community and the digital asset community at large. We got a tremendous amount of feedback, and we’ve incorporated those early comments into a new draft that is at [legislative] council now.”
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Source: igaming
