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Noted Bitcoin and crypto advocate US Senator Cynthia Lummis (R-WY) is now on a highly influential Senate committee that oversees the nation’s banking regulations.
In a statement following her appointment to the Banking, Housing, and Urban Affairs Committee, Lummis says she hopes to advocate for her state’s financial innovations and encourage the development of the digital asset sector.
“Wyoming has been leading the way on financial innovation over the last several years. Through my role on the Banking Committee, I hope to shine a light on many of these pioneering efforts and work with federal regulators to ensure that regulation of digital assets are structured to encourage innovation, instead of stifling it. I also look forward to providing regulatory relief to our community banks and ensuring that we have vibrant, safe financial markets.”
Lummis bought her first BTC in 2013 and has since been a hodler of the leading cryptocurrency.
The first women to represent Wyoming in the Senate previously said that she wants to bring Bitcoin into the national conversation, asserting that the king coin is a solid store of value.
The CEO of Wyoming-based crypto asset banking company Avanti Financial Group, Caitlin Long, says the move is a big step forward for the industry.
SENATOR LUMMIS is now on the Senate Banking Committee.
You guys, a #bitcoiner is on Senate Banking!!
THIS IS HUGE!
Fingers had been crossed for this. It means a whole lotta good stuff.#Bitcoin
🤠😉🤠😉🤠🚀🚀🚀
— Caitlin Long 🔑 (@CaitlinLong_) February 4, 2021
Featured Image: Shutterstock/Greg Kushmerek