Senator Cynthia Lummis has said that the United States is progressing as a "capital of the world" for Bitcoin and digital assets. She emphasized this development as a "promise kept" by former President Donald Trump, who initiated the creation of a strategic Bitcoin reserve and digital asset stockpile. Lummis made these remarks in a March 6 post on X.
"Another promise made, another promise kept," said Sen. Cynthia Lummis. "We are becoming the bitcoin and digital asset capital of the world. America is so ₿ack."
President Trump signed an executive order to establish a strategic Bitcoin reserve and a U.S. digital asset stockpile. This initiative aims to bolster the country's role in managing digital assets. The reserve will hold Bitcoin obtained through forfeiture proceedings, with agencies assessing options for transferring holdings. The stockpile will also include other digital assets acquired similarly, under the oversight of the Treasury Department. The order intends to centralize government-held cryptocurrency, prevent premature sales, and enhance strategic management. Additionally, Trump reiterated his commitment to positioning the U.S. as a leader in cryptocurrency by appointing a "crypto czar" and hosting a White House crypto summit.
Sen. Lummis' post
| X
According to Lummis, "Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets and that strengthens the U.S. dollar with a strategic bitcoin reserve."
Lummis has been appointed by Senate Banking Committee Chair Tim Scott (R-SC) as the first chair of the Senate Banking Subcommittee on Digital Assets. The subcommittee will focus on advancing bipartisan digital asset legislation to promote innovation and protect consumers while addressing areas such as market structure, stablecoins, and a strategic Bitcoin reserve. It will also oversee federal financial regulators to ensure compliance with the law and prevent initiatives like Operation Chokepoint 2.0.
Lummis was sworn into the U.S. Senate on January 3, 2021, becoming Wyoming's first female senator. She previously served in the U.S. House of Representatives from 2008 to 2016, where she was a founding member of the House Freedom Caucus and worked on fiscal issues and Western policies.
