Cynthia Lummis Discusses Crypto Law Reforms With Paul Atkins

Bitcoin legal professional and Republican Senator from Wyoming, Cynthia Lummis, lately met with the Trump administration’s newly nominated SEC Chairman, Paul Atkins. The aim of the assembly was reportedly to debate crypto regulation reforms.

In a put up on X, Lummis shared particulars of her assembly with Atkins. She shared that the aim of the assembly was “to debate digital asset laws and regulatory reforms,” even hinting at doable adjustments sooner or later. She even joked concerning the SEC happening an “Atkins food regimen.”

I loved assembly Paul Atkins, the nominee for @SECGov Chairman. We mentioned digital asset laws and regulatory course of reform. Thanks for stopping by, and I sit up for sharing the SEC on the “Atkins Eating regimen!” to place. pic.twitter.com/WBUAxnOMNl

– Senator Cynthia Lummis (@SenLummis) January 7, 2025

Senator Lummis’ Bitcoin Reserve Plans

Lummis has persistently been a staunch advocate for organising a Bitcoin Strategic Reserve to offset America’s $36 trillion debt. After Federal Reserve Chairman Jerome Powell said that the Fed doesn’t have the authority to personal Bitcoin, Lummis commented, “I need to give Jerome Powell the flexibility to personal Bitcoin,” reiterating the necessity for the federal authorities to strategic Bitcoin technique. to e book.

Her Bitcoin Reserve plan includes buying 1 million Bitcoins over 5 years utilizing US Treasury bonds and conserving them in chilly storage for 20 years, after which the reserve would considerably scale back present US debt.

On August 1, 2024, Senator Lummis formally proposed the Bitcoin Strategic Reserve Act, directing the US authorities to ascertain a reserve fund for Bitcoin.

Waiting for mid-2025, Lummis has introduced plans to be taught from El Salvador’s experiences with Bitcoin and maybe open a gateway for federal help for Bitcoin adoption in the USA.