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Republican Sen. Cynthia Lummis Discusses Crypto Law Reforms With SEC Chair Nominee Paul Atkins
Senator Cynthia Lummis, a staunch advocate for the use of Bitcoin to offset the U.S.’s massive debt, recently met with Paul Atkins, the newly nominated chair of the Securities and Exchange Commission (SEC). The purpose of the meeting was reportedly focused on discussing crypto law reforms. In a tweet following the encounter, Senator Lummis emphasized her discussion with Mr. Atkins regarding digital asset legislation and potential rule changes.
Senator Lummis’ tweet highlighted the lighthearted nature of their conversation, joking about putting the SEC on an “Atkins diet.” The senator’s tone suggests that the meeting was productive and focused on finding common ground between the two parties.
As a long-standing supporter of Bitcoin adoption in the United States, Senator Lummis has previously proposed establishing a federal Bitcoin reserve. Her plan involves using U.S. Treasury funds to purchase 1 million Bitcoins over five years, which would then be stored in cold storage for 20 years before being used to significantly reduce the country’s debt.
Senator Lummis’ recent meeting with Mr. Atkins may have touched on potential reforms to existing crypto regulations, as well as exploring innovative ways to integrate Bitcoin into the U.S. financial system. The discussion could also have addressed concerns around investor protection and regulatory clarity in the rapidly evolving cryptocurrency market.
The senator has previously expressed interest in learning from El Salvador’s experience with Bitcoin and potentially opening a path for federal support for Bitcoin adoption in the United States.
Source: www.cryptonewsz.com
