„Bitcoin advocate“ to be appointed to key parliamentary finance committee
Senator Cynthia Lummis wants to use her appointment to the Banking Committee to give cryptocurrencies a platform.
Arguably the biggest American advocate in the US Senate, has been appointed to the country’s most important parliamentary finance committee.
Senator Lummis‘ team confirmed to Cointelegraph that she has been elected to the Bitcoin Investor Banking Committee for the 117th Congress.
The Republican Party-affiliated senator from the state of Wyoming will additionally sit on the Environment and Commerce committees. The Committee on Banking is the most important parliamentary committee for legislation in the American financial system, which has also already dealt with the regulation of cryptocurrencies.
Last year, for example, it also dealt with the planned Facebook stablecoin Libra
In a corresponding press release, Lummis confirms that she wants to use her appointment to advance the legal situation around digital currencies.
To this end, the senator writes:
„Wyoming has been a trailblazer for innovation in the financial system over the past few years. In my role as a member of the Banking Committee, I want to shine a spotlight on many of these groundbreaking developments, and work with the relevant regulators to ensure these innovations are encouraged, rather than hindered.“
Lummis, who was elected to the Senate last month, is a proven advocate for the crypto industry. In a recent podcast with crypto investor Anthony Pompliano, she had even announced her intention to create a separate parliamentary task force on financial innovation.
The significance of this appointment is also highlighted by crypto expert Caitlin Long, who reacted on Twitter simply with „THIS IS A HUGE THING!“.
Although politicians with an interest in cryptocurrencies have always sat in the US parliament and also in its committees on finance, Lummis is the first senator to actively promote the industry.