Senator Cynthia Lummis of the United States says she appreciates the fact that governments cannot just seize bitcoin.
In response to worries about the national debt and inflation, she stated, "It's quite comforting to know that bitcoin is there."
Senator from the United States: Governments Cannot Seize Bitcoin
In a recent interview with Natalie Brunell of Hard Money, U.S. Senator Cynthia Lummis (R-WY) discussed bitcoin.
The senator from Wyoming praised bitcoin's benefits, mentioning that it cannot be halted, saying, "I love that it can't be stopped especially because I'm concerned about our national debt." Concerning inflation, I'm worried.
I see folks in my home state of Wyoming going to food banks now because they need fuel, they need gasoline to get to their jobs, and they now have to choose between expensive gasoline and food, so they are going to food banks for their food, she continued.
The senator went on to say, Therefore, we really need to look at assets that are going to be there for the long term when we see things that are inflationary, when we see the value of a dollar decline when you go to the grocery store and you come out with one sack of food instead of coming out with two for the same amount.
She went on to say that in some nations with unstable governments, the government may come and seize people's houses and property. The senator emphasized that the government could not seize Bitcoin.
According to the senator, that is unquestionably a safety net and something that individuals living in really unstable areas of other countries can confidently rely on to be there in the morning when they wake up.
Together with Senator Kirsten Gillibrand, the Wyoming senator introduced the "Lummis-Gillibrand Responsible Financial Innovation Act" in June (D-NY).
According to Lummis, who provided an update on the measure, it is a very extensive piece of legislation—possibly too complex, considering the amount of time left in 2022 for it to be passed. But that gives us more time to gather more feedback on the law, and we want to welcome that, she continued. We want individuals to offer more feedback, suggestions, and ideas.