SAB 121 House Joint Resolution
This bill is very pro-crypto.
voted for
Cynthia Lummis
Republican Senator from Wyoming
Notable statements
Cynthia Lummis
@SenLummis
Don’t stop ₿elieving. Bitcoin reaches $100k!
Very pro-crypto
Cynthia Lummis
@SenLummis
Paul Atkins' nomination as SEC Chair is a huge win for financial innovation. President Trump promised to have the most pro-digital asset admin in U.S. history, and I am looking forward to working with both of them to promote innovation and make our economy strong again
Very pro-crypto
Cynthia Lummis
@SenLummis
Looking forward to discussing digital assets and the future of my Strategic Bitcoin Reserve legislation in the upcoming congress. Tune in at 4:00pm.
x.com/i/spaces/1gqxv…
Very pro-crypto
Cynthia Lummis
@SenLummis
President Trump is assembling an army to fight for bitcoin. pic.x.com/gPAReUHS4V
Very pro-crypto
Cynthia Lummis
@SenLummis
Very pro-crypto
Cynthia Lummis
@SenLummis
The Biden-Harris administration drove digital assets out of the United States. President Trump will welcome the industry home with open arms. pic.x.com/fMdQiyHR9R
Very pro-crypto
Cynthia Lummis
@SenLummis
Gary Gensler’s anti-digital asset reign at the SEC will officially end in January. This is welcome news for the digital asset industry. I’m hopeful the next SEC Chair will follow the law and not try to stand in the way of financial innovation.
Very pro-crypto
Cynthia Lummis
@SenLummis
Problem: The U.S. national debt surpassed 36 trillion!
Solution: A strategic bitcoin reserve.
bloomberg.com/news/articles/…
Very pro-crypto
Cynthia Lummis
@SenLummis
If only there was a way to dig our nation out of debt while ensuring the strength of the U.S. dollar. Oh wait. #BITCOINAct
Very pro-crypto
Cynthia Lummis
@SenLummis
I enjoyed discussing digital assets in the upcoming Congress.
This will be the most pro-digital asset administration EVER. 
x.com/vaneck_us/stat…d
x.com/vaneck_us/stat…dVery pro-crypto
Cynthia Lummis
@SenLummis
WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE
Very pro-crypto
Cynthia Lummis
@SenLummis
I always enjoy when I start my day with @SquawkCNBC. We had a great discussion about digital assets and the need for commonsense regulation that encourages financial innovation while protecting consumers. pic.x.com/r1bUt53fxk
Very pro-crypto
Cynthia Lummis
@SenLummis
The U.S. has always been a financial leader, but we're on the brink of being left behind in the digital asset race. President Trump understands digital assets are here to stay; now Congress needs to pass essential legislation to secure our financial future. pic.x.com/9q1g9hq02a
Very pro-crypto
Cynthia Lummis
@SenLummis
Another country joins the Bitcoin race. America needs a Strategic Bitcoin Reserve as soon as possible to remain a financial leader in the 21st century.
coindesk.com/markets/2024/0…
Very pro-crypto
Cynthia Lummis
@SenLummis
My BITCOIN Act is currently the only viable solution that positions us to cut our national debt in half by 2045. I joined @BanklessHQ to discuss how my commonsense legislation will get us back on track and secure our position as a world leader in financial innovation. x.com/BanklessHQ/sta…
Very pro-crypto
Cynthia Lummis
@SenLummis
Creating a strategic Bitcoin reserve will:
cut our national debt in half by 2045
secure the U.S. as a world leader in financial innovation
create a brighter future for generations of Americans.
Let’s get serious about our national debt and pass the BITCOIN Act!
cut our national debt in half by 2045
secure the U.S. as a world leader in financial innovation
create a brighter future for generations of Americans.
Let’s get serious about our national debt and pass the BITCOIN Act!Very pro-crypto
Cynthia Lummis
@SenLummis
It was great to join @tanayamacheel on CNBC’s Crypto World to discuss the BITCOIN Act and why the U.S. should create a strategic Bitcoin reserve.
cnbc.com/video/2024/07/…
Very pro-crypto
Cynthia Lummis
@SenLummis
If we want to get serious about addressing our national debt and spending crisis, we need bold, innovative solutions. Great to join @JoeConsorti & @timevalueofbtc on @TheBitcoinLayer to talk about my legislation to create a strategic Bitcoin reserve to pay down our national debt. x.com/TheBitcoinLaye…
Very pro-crypto
Cynthia Lummis
@SenLummis
The wait is over. This is our Louisiana Purchase moment.
Read the text for my BITCOIN Act below 
https://t.co/mSYJVwn1wI
https://t.co/mSYJVwn1wIVery pro-crypto
Cynthia Lummis
@SenLummis
Today, the national debt has passed a staggering $35 trillion.
A strategic Bitcoin reserve could stop this runaway train and help pay down the national debt for our future generations.
Very pro-crypto
Cynthia Lummis
@SenLummis
The ₿est is yet to come… you ain’t seen nothing yet.
#Bitcoin2024
Very pro-crypto
Cynthia Lummis
@SenLummis
America needs clear rules of the road for Bitcoin, not regulation by enforcement. Great discussion with @SenatorTimScott on how Bitcoin unlocks financial freedom and inclusion. pic.twitter.com/hoBnh8Yowl
Very pro-crypto
Cynthia Lummis
@SenLummis
#Bitcoin is transforming not only our country, but our world and the United States needs to be the global leader. pic.twitter.com/43EQ8oPrNR
Very pro-crypto
Cynthia Lummis
@SenLummis
We can create a brighter future for generations of Americans by diversifying into #Bitcoin and being the first developed nation to create a strategic reserve. Read more https://t.co/1cWAssvZIW
https://t.co/1cWAssvZIW
Very pro-crypto
Cynthia Lummis
@SenLummis
If government controls the money, they control us. It’s time to stop the Biden admin’s war on bitcoin. Let’s pave the way for financial innovation, not stifle it. pic.twitter.com/HZLd4QwexX
Very pro-crypto
Cynthia Lummis
@SenLummis
With a strategic #Bitcoin reserve, we will have an asset that can cut our debt in half by 2045. pic.twitter.com/HYWSpJ9Siu
Very pro-crypto
Cynthia Lummis
@SenLummis
This is the solution.
This is the answer.
This is our Louisiana Purchase moment!
#Bitcoin2024 pic.twitter.com/RNEiLaB16U
Very pro-crypto
Cynthia Lummis
@SenLummis
We will convert excess reserves at our 12 Federal Reserve banks into #bitcoin over five years. We have the money now! pic.twitter.com/fGtYQ15jQJ
Very pro-crypto
Cynthia Lummis
@SenLummis
ICYMI: I just announced I will introduce legislation to establish a strategic Bitcoin reserve! #Bitcoin2024 pic.twitter.com/P36AcdmPFF
Very pro-crypto
Cynthia Lummis
@SenLummis
Over five years, the United States will assemble one million Bitcoin, 5% of the world’s supply! #Bitcoin2024 pic.twitter.com/mPuqbq9RK8
Very pro-crypto
Cynthia Lummis
@SenLummis
Let me be clear: we will not let President Biden power down progress. No tax on Bitcoin mining! pic.twitter.com/qgYk1uOe6j x.com/SenLummis/stat…
Very pro-crypto
Cynthia Lummis
@SenLummis
In January 2009, when Satoshi Nakamoto mined the first #Bitcoin he brought about an asset that will change the world. pic.twitter.com/zRb0o2G1Do
Very pro-crypto
Cynthia Lummis
@SenLummis
#Bitcoin is the key to a brighter financial future for every single American. So excited to have @SenatorTimScott join me to talk about the importance of financial inclusion and all of Bitcoin’s untapped potential.
#Bitcoin2024 pic.twitter.com/r1MF4NqClL
Very pro-crypto
Cynthia Lummis
@SenLummis
Congratulations to the @DigitalChamber on its 10 year anniversary! The chamber has been committed to advancing bitcoin and digital asset priorities for a decade, and I look forward to continuing to work with them for many years to come! pic.twitter.com/t8y0UkOiK9
Very pro-crypto
Cynthia Lummis
@SenLummis
So excited to be in Nashville for @BitcoinMagazine's Bitcoin 2024 Conference. There is a special spirit in the #Bitcoin community that inspires me, and I couldn’t be more excited for what’s to come this weekend. pic.twitter.com/TkQAjiXkCM
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @BankingGOP: TODAY: @SenatorTimScott and @SenLummis will lead a fireside chat @TheBitcoinConf, entitled “For Love of Country and Bitcoin…
Very pro-crypto
Cynthia Lummis
@SenLummis
The Biden administration’s dangerous scheme to tax #Bitcoin miners is a blatant attack on innovation, energy abundance and American excellence.
Read my orange paper that refutes this disastrous proposal below
https://t.co/5OCYiXttu6
https://t.co/5OCYiXttu6Very pro-crypto
Cynthia Lummis
@SenLummis
Do you know what form of currency hasn’t been affected by widespread cyber outages? Bitcoin.
Vires in Numeris
Very pro-crypto
Cynthia Lummis
@SenLummis
This is HUGE
CL: “Should banks be able to provide services to digital asset companies like payment services?”
CGR: “Yeah, I don’t think it’s the FDIC’s role to tell banks what industries or companies they should be providing services to.”
Watch the full clip below https://t.co/NicfAz1VCr
Very pro-crypto
Cynthia Lummis
@SenLummis
Bitcoin and digital assets are the future. Here’s my agenda:
No retail Central Bank Digital Currencies
Clear protections for self-custody Bitcoin wallets
Restore Dollar Dominance for the 21st Century https://t.co/yEy9tcxU5b
No retail Central Bank Digital Currencies
Clear protections for self-custody Bitcoin wallets
Restore Dollar Dominance for the 21st Century https://t.co/yEy9tcxU5b
Very pro-crypto
Cynthia Lummis
@SenLummis
Great to join @Semafor this week to talk about the future of the financial services industry and how the U.S. can drive financial innovation by creating commonsense guardrails centered around consumer protections for digital assets. pic.twitter.com/5bv0u6kcJu
Very pro-crypto
Cynthia Lummis
@SenLummis
Great conversation with @VivekGRamaswamy about securing the financial future of the country and the importance of ensuring the U.S. keeps financial innovation here by embracing the tremendous potential of Bitcoin and digital assets. x.com/VivekGRamaswam…
Very pro-crypto
Cynthia Lummis
@SenLummis
The Biden admin and Gary Gensler’s unrelenting persecution of Bitcoin and digital assets is pushing the industry overseas and causing America to fall behind.
We are the global leader in financial innovation.
Let's act like it and provide the industry a home. x.com/coinbase/statu…
Very pro-crypto
Cynthia Lummis
@SenLummis
I will not stand idly by as this admin attempts to skirt the law, and I will continue to fight to promote financial innovation and key protections for crypto assets this admin seems hellbent on stifling.
My statement on the president's decision to veto my SAB 121 CRA https://t.co/pXjGXPi6fN
https://t.co/pXjGXPi6fN
Very pro-crypto
Cynthia Lummis
@SenLummis
When I came to the U.S. Senate nobody knew anything about crypto assets.
Nobody knew the difference between Bitcoin and other crypto assets.
We have worked hard to educate Washington and are now seeing the fruits of those labors. pic.twitter.com/lHUVrMTrq2
Very pro-crypto
Cynthia Lummis
@SenLummis
It has been one of the most meaningful weeks ever for crypto in Washington.
I joined my friend @laurashin to discuss the eventful week and why I am more optimistic than ever about the future of crypto in America. x.com/laurashin/stat…
Very pro-crypto
Cynthia Lummis
@SenLummis
.@SECGov’s approval of a spot ETF for Ether is the latest sign crypto is being accepted as a mature asset class and underscores the need for Congress to pass a regulatory framework to protect consumers and provide clear rules of the road for the industry.
Very pro-crypto
Cynthia Lummis
@SenLummis
We are building a pro-crypto army in Congress.
Very pro-crypto
Cynthia Lummis
@SenLummis
@gillibrandny & I have worked tirelessly to craft a crypto asset bill that provides commonsense solutions to unleash financial innovation without eroding consumer protections. I am encouraged by the House’s shared interest in positioning the U.S. to be a global leader in crypto.
Very pro-crypto
Cynthia Lummis
@SenLummis
Very pro-crypto
Cynthia Lummis
@SenLummis
The passage of FIT 21 proves there is strong, bipartisan support in Congress for creating a regulatory framework for the crypto industry.
Congratulations @PatrickMcHenry, @CongressmanGT, @RepFrenchHill, @RepDustyJohnson, @GOPMajorityWhip& @WarrenDavidson on this momentous vote.
Very pro-crypto
Cynthia Lummis
@SenLummis
There is a bipartisan majority in both chambers of Congress in favor of crypto.
The future is very bright…
Very pro-crypto
Cynthia Lummis
@SenLummis
The Senate passing a CRA overturning SAB 121 is a win for financial innovation and a clear rebuke of the way the Biden admin and Gary Gensler have persecuted crypto.
It also marks the 1st time Congress has passed standalone crypto legislation.
We are just getting started.
Very pro-crypto
Cynthia Lummis
@SenLummis
All due respect, @SenTedCruz but Wyoming is the best state in the country for Bitcoin and crypto. x.com/DigitalChamber…
Very pro-crypto
Cynthia Lummis
@SenLummis
We are at a pivotal point in the fight to ensure the crypto asset industry has a home in America.
Join me for an update on the fight for crypto in Washington at the #DCBlockchain Summit tomorrow! pic.twitter.com/noKQdnsRRN
Very pro-crypto
Cynthia Lummis
@SenLummis
President Biden's DOJ steamrolling the longstanding interpretation of FinCEN is legally wrong and threatens to criminalize Bitcoin software development in America.
@RonWyden and I have sent a bipartisan letter to DOJ urging it to drop this interpretation immediately. https://t.co/iazbBhMcOv
https://t.co/iazbBhMcOv
Very pro-crypto
Cynthia Lummis
@SenLummis
I am deeply concerned by the Biden administration criminalizing core tenants of the Bitcoin network and decentralized finance.
My full statement. https://t.co/M3CHcNTi3x
https://t.co/M3CHcNTi3x
Very pro-crypto
Cynthia Lummis
@SenLummis
It would be a historic mistake to slap Bitcoin miners with a 30% tax that is a de facto ban.
The U.S. is a global leader in innovation, let's keep it that way.
cointelegraph.com/news/biden-is-…
Very pro-crypto
Cynthia Lummis
@SenLummis
I joined @SquawkCNBC to discuss the details of my brand new stablecoin legislation.
The bill will cultivate innovation and allow the rapidly growing crypto asset industry to continue to gain a foothold in the U.S. while ensuring there are adequate consumers protections. pic.twitter.com/RNFb0CCztf
Very pro-crypto
Cynthia Lummis
@SenLummis
The Bitcoin network has a programmed schedule to create new Bitcoin approximately every 10 minutes for “miners” protecting the network with powerful computers.
This mining process uses energy to create new bitcoins, just like gold miners use energy to extract more gold.
Very pro-crypto
Cynthia Lummis
@SenLummis
Today, Team Lummis hosted a lunch and learn to celebrate this year’s Bitcoin halving.
Thanks to @mempool for their awesome block explorer!
Watching #Bitcoin live never ceases to amaze. pic.twitter.com/yNJfc20ucU
Very pro-crypto
Cynthia Lummis
@SenLummis
Today's Halving is extra special because for the first time ever Bitcoin will become more scarce than gold.
Bitcoin continues to prove itself as a store of value and the Halving is a key reason why.
Happy Halving!
Very pro-crypto
Cynthia Lummis
@SenLummis
About every 4 years, the programmed amount of Bitcoin created every 10 minutes is cut in half, aka the “Halving.”
This ensures the supply is always increasing relative to the amount being created.
Supply & demand is the basis of economics and Bitcoin is no different.
Very pro-crypto
Cynthia Lummis
@SenLummis
Happy Halving!
The 'Halving' is one of Bitcoin’s ingenious features that creates scarcity and value, in the same way that scarcity in gold creates value.
So, what exactly is the Halving? And, why is today’s extra special?
Very pro-crypto
Cynthia Lummis
@SenLummis
In order to meet the growing demand for our ever-evolving financial industry, we need to craft legislation that strikes the careful balance of establishing a clear and workable framework for stablecoins while protecting consumers.
My bill with @gillibrandny achieves just that. x.com/CoinDesk/statu…
Very pro-crypto
Cynthia Lummis
@SenLummis
The bill authorizes state non-depository trust companies to issue payment stablecoins up to $10 billion, with limited-purpose state/OCC depository institutions authorized to issue any amount.
Very pro-crypto
Cynthia Lummis
@SenLummis
Crypto assets are going to continue to change the world, and the U.S. is at a crossroads - embrace innovation and lead the world forward or get left behind.
Let's pass comprehensive stablecoin legislation to take the first step in ensuring our nation is a leader.
Very pro-crypto
Cynthia Lummis
@SenLummis
In light of the FTX collapse, the Lummis-Gillibrand Payment Stablecoin Act establishes proper custody and third-party risk management practices to maximize consumer protection while allowing the emerging industry to continue to grow.
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @gillibrandny: I'm proud to join @SenLummis to introduce the Payment Stablecoin Act.
Passing a regulatory framework for stablecoins is…
Very pro-crypto
Cynthia Lummis
@SenLummis
@gillibrandny and I are introducing the most comprehensive stablecoin bill to date.
Crypto assets are revolutionizing the world and as the undisputed leader in financial innovation, the U.S. must embrace crypto assets, but it cannot be done without clear rules for stablecoins. pic.twitter.com/vwRUEBUdsl
Very pro-crypto
Cynthia Lummis
@SenLummis
The Lummis-Gillibrand Payment Stablecoin Act solves key policy challenges that have lingered around previous proposals & provides prudential regulation & added consumer protections to stablecoin issuers.
But above all, it allows innovation to prosper.
Very pro-crypto
Cynthia Lummis
@SenLummis
Recent advancements in financial innovation have laid bare shortcomings in current U.S. policy regarding stablecoins, which fails to strike the delicate balance of promoting financial innovation without sacrificing consumer protections. x.com/CoinDesk/statu…
Very pro-crypto
Cynthia Lummis
@SenLummis
I always enjoy having the opportunity to talk to my colleagues about crypto assets, and I sincerely appreciate @cdixon taking the time to speak with our bipartisan Financial Innovation Caucus. x.com/FinancialCaucu…
Very pro-crypto
Cynthia Lummis
@SenLummis
Between the Bitcoin spot ETF approval and the upcoming halving, 2024 is already proving to be a huge year for crypto assets.
I am thrilled to be joining the #DCBlockchainSummit on May 15th to discuss what needs to be done to ensure America does not fall behind. pic.twitter.com/EVlGJ3sqkk
Very pro-crypto
Cynthia Lummis
@SenLummis
Tune in to the Bitcoin Policy Summit where I’m discussing Bitcoin mining and the benefits Bitcoin brings to our nation. x.com/bitcoinmagazin…
Very pro-crypto
Cynthia Lummis
@SenLummis
If a Bitcoin mining ban will cost Paraguay's economy $200 million per year, how damaging would a similar ban be in the United States?
President Biden's proposed 30% mining tax is so punitive it is a de facto ban.
The U.S. must embrace innovation not big government mandates. x.com/Cointelegraph/…
Very pro-crypto
Cynthia Lummis
@SenLummis
Between a bullish budget forecast and a $2 billion Bitcoin seizure, the Biden admin's actions are starting to suggest it sees the value in crypto assets despite publicly downplaying the industry’s potential.
Is the U.S. government becoming one of the biggest HODLers? x.com/Blockworks_/st…
Very pro-crypto
Cynthia Lummis
@SenLummis
The White House 2025 budget is incredibly bullish on crypto assets, some might even say they believe it’s going to the moon.
But a proposed 30% punitive tax on digital asset mining would destroy any foothold the industry has in America.
But a proposed 30% punitive tax on digital asset mining would destroy any foothold the industry has in America.Very pro-crypto
Cynthia Lummis
@SenLummis
Honored to be included with some the brightest minds in the crypto asset industry! x.com/trylolli/statu…
Very pro-crypto
Cynthia Lummis
@SenLummis
The future for crypto assets has never been brighter.
Congress must embrace innovation and pass a regulatory framework that protects consumers and encourages the industry to make a home in America. x.com/YahooFinance/s…
Very pro-crypto
Cynthia Lummis
@SenLummis
Thank you @MilkenInstitute for hosting the 2024 Future of FinTech Symposium. We had a great discussion on why it is critical America is the country of choice for the crypto asset industry.
The U.S. is the undisputed home of financial innovation, and crypto is the next frontier. pic.twitter.com/ateuLpEnOS
Very pro-crypto
Cynthia Lummis
@SenLummis
The Department of Energy officially withdrew its crypto mining usage survey today, a win for crypto mining and the entire crypto asset community.
I will continue to fight back against this blatant government overreach to ensure crypto is not unfairly targeted by the Biden admin.
Very pro-crypto
Cynthia Lummis
@SenLummis
I am thrilled the Department of Energy suspended its crypto asset mining usage survey.
DOE should never pick winners and losers with who can access the energy grid.
Very pro-crypto
Cynthia Lummis
@SenLummis
.@ENERGY's plan to start a database to track crypto-mining operations is incredibly concerning.
The Biden admin cannot say it is concerned about crypto mining's energy use when it is pushing an EV mandate that will increase grid demand by nearly 40%.
breitbart.com/politics/2024/…
Very pro-crypto
Cynthia Lummis
@SenLummis
Could not agree more.
Let's pass Lummis-Gillibrand to protect consumers, give the crypto asset community a home in America and continue our nation's reputation as the undisputed home of financial innovation. twitter.com/taylorjbarr/st…
Very pro-crypto
Cynthia Lummis
@SenLummis
I had a great discussion with @CoinDesk on what the approval of #Bitcoin spot ETFs means for the future of crypto assets in America, what to expect on crypto legislation in Congress this year and much more. twitter.com/CoinDesk/statu…
Very pro-crypto
Cynthia Lummis
@SenLummis
$900 million in non-crypto (fiat currency) money laundering vs $900,000 in crypto money laundering.
Crypto is clearly not the problem. Criminals and bad actors are.
It would be a historic mistake to crush an entire emerging industry based on incorrect data. twitter.com/SamLyman33/sta…
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @blockchaintpsht: .@SenLummis spoke to us today about the state of digital assets legislation in Congress. Among her observations:
On S…
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @YahooFinance: .@SenLummis says the $BTC ETF approvals show it's prime time for crypto regulation legislation: "We are now behind many c…
Very pro-crypto
Cynthia Lummis
@SenLummis
I am thrilled @SECGov granted approval for all 11 #Bitcoin spot exchange traded funds.
Read my full statement https://t.co/VkSbtVE2Do
https://t.co/VkSbtVE2Do
Very pro-crypto
Cynthia Lummis
@SenLummis
Nobody should find out they are a felon because of regulatory uncertainty, but sadly the rules surrounding crypto assets in America are as clear as mud right now.
This snapshot shows exactly why we need the regulatory clarity provided in Lummis-Gillibrand. twitter.com/DigitalChamber…
Very pro-crypto
Cynthia Lummis
@SenLummis
The world is watching to see if America will continue to embrace innovation or not.
The status quo of regulating through enforcement creates unclear rules for businesses and leaves consumers vulnerable.
Congress must create rules of the road for the crypto asset industry. twitter.com/CNBC/status/17…
Very pro-crypto
Cynthia Lummis
@SenLummis
.@PatrickMcHenry has honorably served the people of North Carolina’s 10th district and has been a champion of financial innovation as the chair of @financialcmte. I appreciate the work we’ve done together on crypto and look forward to passing meaningful crypto legislation in 2024
Very pro-crypto
Cynthia Lummis
@SenLummis
I had a great time joining @unchainedcom to discuss our nation's debt crisis, explain why every American deserves the freedom to self-custody crypto assets and provide an update on legislation in Washington.
Watch the full interview below.
youtube.com/watch?v=jUCj5O…
Very pro-crypto
Cynthia Lummis
@SenLummis
Crypto accounts for < 1% of all illicit finance activity and would be even less if we created a regulatory structure to allow the crypto industry to operate in America instead of unregulated foreign markets.
Crypto is not the problem, bad actors that exist in every industry are. twitter.com/ForbesCrypto/s…
Very pro-crypto
Cynthia Lummis
@SenLummis
We have only scraped the surface of crypto assets’ potential.
As the article below wisely explains, crypto mining has tremendous potential to help regulate the grid and boost domestic energy production.
coindesk.com/policy/2023/10…
Very pro-crypto
Cynthia Lummis
@SenLummis
Meticulous reporting by @chainalysis found that crypto assets account for just $20 billion, less than 1% of the more than $2 trillion in global illicit finance activity every year.
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @coinbase: Did you read the WSJ's false story on Hamas & crypto?
Join @faryarshirzad, @SenLummis, @tomrobin, and @MicheleKorver on Spac…
Very pro-crypto
Cynthia Lummis
@SenLummis
Make no mistake, crypto assets are NOT the problem.
Bad actors, who exist in every sector, are.
The future for crypto assets in America is brighter than ever.
Very pro-crypto
Cynthia Lummis
@SenLummis
An inaccurate report last week claimed Hamas raised nearly $100 million via crypto assets.
In reality, it was less than $500,000.
This encapsulated the misconception that crypto is a tool for illicit finance when it accounts for less than 1% of global illicit finance activity. pic.twitter.com/7brB3tmxoV
Very pro-crypto
Cynthia Lummis
@SenLummis
.@CatoInstitute detailed how the faulty report about Hamas was part of a larger trend where the anti-crypto community scapegoats crypto assets as a tool for illicit finance.
cato.org/blog/warren-ta…
Very pro-crypto
Cynthia Lummis
@SenLummis
When it comes to illicit finance, crypto is not the enemy - bad actors are.
I sent a letter asking DOJ to finish its investigation and consider criminal charges against Binance and Tether after reports they served as intermediaries for Hamas and engaged in illicit activities. pic.twitter.com/M3KGNFkpWc
Very pro-crypto
Cynthia Lummis
@SenLummis
I joined the Bitcoin Layer to discuss how I became interested in crypto assets and the work I am doing in Congress to ensure Washington passes much-needed crypto asset legislation.
Always a fun time with my friend @timevalueofbtc. twitter.com/TheBitcoinLaye…
Very pro-crypto
Cynthia Lummis
@SenLummis
FTX's collapse was not about the value of crypto assets, just as Bernie Madoff’s fraud was not about the stock market.
Rather, FTX showed the clear need to bring regulatory rules of the road to the crypto asset industry.
cnbc.com/2023/10/02/ftx…
Very pro-crypto
Cynthia Lummis
@SenLummis
Our judicial system has rightfully upheld what I have been saying - @SECGov cannot legislate through enforcement.
The path forward for establishing a federal regulatory framework for crypto assets must run through Congress. pic.twitter.com/aVBWF5EgDA
Very pro-crypto
Cynthia Lummis
@SenLummis
I’m encouraged to see @USTreasury finally issue its rules regarding tax reporting requirements for crypto brokers…however, I have serious concerns about the rule’s potential impact on decentralized crypto asset exchanges & its treatment of U.S. dollar-backed stablecoins. MORE https://t.co/6x5VeNnaJz
https://t.co/6x5VeNnaJz
Very pro-crypto
Cynthia Lummis
@SenLummis
Another sign that crypto assets are here to stay as part of the global financial system.
Now, Congress needs to secure America's status as the unquestioned global leader in financial innovation by creating clear regulatory rules of the road.
cnbc.com/2023/08/07/pay…
Very pro-crypto
Cynthia Lummis
@SenLummis
The lack of clear rules of the road at the federal level is creating a legal mess for the crypto asset industry while leaving Wyoming consumers and investors vulnerable to bad actors.
bloomberg.com/news/articles/…
Very pro-crypto
Cynthia Lummis
@SenLummis
Two weeks after introduction, the first pieces of Lummis-Gillibrand have passed the Senate, weeding out bad actors in the crypto space and ensuring crypto assets are not used to evade sanctions or fund terrorism.
Very pro-crypto
Cynthia Lummis
@SenLummis
The Ripple decision has reinforced the need for Congress to create a regulatory structure for crypto assets.
Lummis-Gillibrand is the comprehensive, bipartisan bill that protects consumers while allowing the industry to continue to drive the innovation our economy needs.
Very pro-crypto
Cynthia Lummis
@SenLummis
"The Responsible Financial Innovation Act—which Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) are reintroducing today—is the most comprehensive crypto bill ever to come before the U.S. Senate. It is also the most bipartisan."
forbes.com/sites/digital-…
Very pro-crypto
Cynthia Lummis
@SenLummis
What's new in the Lummis-Gillibrand Responsible Financial Innovation Act of 2023?
Consumer protection is heavily prioritized and criminal activity is cracked down on while a strong regulatory foundation for the crypto asset industry in America is solidified for the long haul. pic.twitter.com/SGNvwME0CP
Very pro-crypto
Cynthia Lummis
@SenLummis
The crypto asset industry is here to stay.
Today, @SenGillibrand and I are reintroducing landmark legislation to create a federal regulatory framework that allows crypto businesses and investors to prosper here in America while protecting consumers from bad actors. pic.twitter.com/z2pr0evWt2
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @SquawkCNBC: "We need a regulatory framework that integrates crypto assets into our economy in a way that ensures consumer protection,"…
Very pro-crypto
Cynthia Lummis
@SenLummis
I am glad Chairman Powell recognizes what China and Europe have been working overtime to capitalize on -- crypto assets have real value and tremendous potential.
America is at a critical crossroads, and we must create legal clarity for the crypto industry and consumers. twitter.com/DocumentingBTC…
Very pro-crypto
Cynthia Lummis
@SenLummis
Wyoming's first-of-its kind crypto asset rules of the road have protected consumers, fueled financial innovation and allowed businesses to blossom & create jobs. It’s no surprise Wyoming ranks #1 in the nation and #7 in the world on Coindesk’s Crypto Hubs 2023 list.
Very pro-crypto
Cynthia Lummis
@SenLummis
More than 50 million Americans own a crypto asset.
We need to establish clear rules of the road that protect consumers and encourage financial innovation but limit the regulatory overreach that the SEC is currently engaging in.
cointelegraph.com/news/impossibl…
Very pro-crypto
Cynthia Lummis
@SenLummis
We successfully prevented @POTUS' 30% digital asset mining tax from being included in the debt ceiling deal but the fight is far from over.
I am working on a regulatory framework that will allow individuals and companies to own and trade digital assets in America.
Stay tuned...
Very pro-crypto
Cynthia Lummis
@SenLummis
Thank you to Bitcoin 2023 for inviting me to speak!
America must welcome innovation and digital assets are the future of financial innovation. pic.twitter.com/vMeZosFUiU
Very pro-crypto
Cynthia Lummis
@SenLummis
A 30% tax hike on any specific industry is a blatant attempt by the administration to pick winners and losers.
I will not let President Biden tax the digital asset industry out of existence.
decrypt.co/140751/bitcoin…
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @DigitalChamber: Going to #Bitcoin 2023? - Be sure to catch @PerianneDC moderating a discussion with @SenLummis & @PatrickMcHenry Friday…
Very pro-crypto
Cynthia Lummis
@SenLummis
Using revenue from fixing the wash sale rule as a bargaining chip in budget negotiations is wrong.
The revenue should be used to fund a regulatory framework for digital assets so the industry can grow.
Let’s talk more about the Lummis-Gillibrand digital asset framework! twitter.com/POTUS/status/1…
Very pro-crypto
Cynthia Lummis
@SenLummis
Thank you to @btcpolicyorg for inviting me to speak about the state of the digital asset industry.
My conversations with industry leaders have highlighted how close the US is to losing our title as the home of financial innovation.
I will not let it happen. pic.twitter.com/Fu4HzIGb3b
Very pro-crypto
Cynthia Lummis
@SenLummis
Fueling innovation and protecting consumers are at the heart of why it is critical to create a federal regulatory framework for digital assets.
Wyoming has led the way and Congress needs to catch up.
trib.com/opinion/column…
Very pro-crypto
Cynthia Lummis
@SenLummis
I joined @alexismtabak on the Glitter Ledger to discuss the Lummis-Gillibrand Digital Asset Framework and other work I’m doing here in the Senate to protect consumers and integrate digital assets into our financial system!
podcasts.apple.com/us/podcast/sen…
Very pro-crypto
Cynthia Lummis
@SenLummis
Industry leaders could not be more clear -- if Congress does not pass a digital asset regulatory framework soon, the industry will move overseas.
America has always been a leader in innovation, let's not lose our hard-earned reputation.
cointelegraph.com/news/us-crackd…
Very pro-crypto
Cynthia Lummis
@SenLummis
This is definitely the most interesting way I have ever heard digital asset mining explained… pic.twitter.com/zePZ1UsarO
Very pro-crypto
Cynthia Lummis
@SenLummis
The same admin that is focused on banning gas stoves and replacing gas powered cars now pushing to curtail digital asset mining over concerns with energy usage. This makes no sense.
This admin shouldn’t be picking winners and losers in what industries can use our energy grid. pic.twitter.com/DDjrKpO0iu
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @JulieNBCNews: EXCLUSIVE @NBCNews: In a letter sent to the SEC Thursday, House Fin Serv Chair @PatrickMcHenry & crypto proponent @SenLum…
Very pro-crypto
Cynthia Lummis
@SenLummis
"In sum, the effect of SAB 121 is to deny millions of Americans access to safe and secure custodial arrangements for digital assets."
My letter with @PatrickMcHenry here:
https://t.co/kEQKJMg4tC
My letter with @PatrickMcHenry here:
https://t.co/kEQKJMg4tCVery pro-crypto
Cynthia Lummis
@SenLummis
RT @AmerBanker: NEW: The new Lummis-Gillibrand crypto bill won't touch Federal Reserve master accounts. More details, including timing of t…
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @SenatorHagerty: Regulators singling out business activities should alarm all Americans.
It doesn’t matter if it’s cryptoassets, firear…
Very pro-crypto
Cynthia Lummis
@SenLummis
Great news!
This will give companies who hold digital assets more certainty in their bookkeeping and ensure digital assets receive a fair value.
This is a big step forward.
wsj.com/articles/stand…
Very pro-crypto
Cynthia Lummis
@SenLummis
2022 lit the discussion around the regulation of digital assets on fire. While the Lummis-Gillibrand digital asset framework has not passed, we have a solid jumping-off point to pursue this legislation and further digital asset legislation next year.
Very pro-crypto
Cynthia Lummis
@SenLummis
Lummis slams Ex-crypto boss Sam Bankman-Fried for committing ‘pure and simple, good old-fashioned fraud’ foxbusiness.com/fbntv/ex-crypt… #FoxBusiness
Very pro-crypto
Cynthia Lummis
@SenLummis
'Bitcoin Senator' Lummis: FTX Collapse Shows 'It's Time' for Congress to Learn About Crypto (via @decryptmedia) decrypt.co/115929/bitcoin…
Very pro-crypto
Cynthia Lummis
@SenLummis
RT @ftlive: Senator Cynthia Lummis outlines the scope of her crypto regulation bill at #FTCrypto
@SenLummis pic.twitter.com/hMWZU4Vvqr
Very pro-crypto
Cynthia Lummis
@SenLummis
This is why we need comprehensive legislation around digital assets. Lummis-Gillibrand would contain the spread of firm failures like this. twitter.com/wsj/status/159…
Very pro-crypto
Cynthia Lummis
@SenLummis
-Clear property rights (not your keys, not your coins!)
-Strong protection & separation of customer assets on an exchange
-Tight limits on digital asset leverage & lending
-Strong protection & separation of customer assets on an exchange
-Tight limits on digital asset leverage & lending Very pro-crypto
Cynthia Lummis
@SenLummis
People in Wyoming place a high value of trust in their institutions. They bank where their grandfathers did. If the digital asset industry wants to have staying power, they need to build trust. My bill with @gillibrandny will build a framework to start building that trust.
Very pro-crypto
Cynthia Lummis
@SenLummis
It's clearer now than ever before that we need comprehensive regulation in the digital asset space. @gillibrandny and I stand ready with the solution. It's time for Congress to pass the Responsible Financial Innovation Act to safeguard Americans' hard-earned money.
Very pro-crypto
Cynthia Lummis
@SenLummis
Join the @CasperChamber and my state policy director Tyler Lindholm to learn more about how financial innovation and digital assets will play a role in Wyoming’s economy! Register here: casperwyoming.chambermaster.com/eventregistrat…
Very pro-crypto
Cynthia Lummis
@SenLummis
It is crucial that Congress leads on regulating digital assets. I am working hard with @gillibrandny to pass the Responsible Financial Innovation Act, which will protect consumers and solidify the US as the global financial leader for generations to come.
home.treasury.gov/news/press-rel…
Very pro-crypto