Senator Lummis Criticizes CBDCs, Reaffirms Support for Bitcoin
Washington, D.C. - In a recent interview with Fox Business, Senator Cynthia Lummis, often hailed as Congress' "Crypto Queen," has doubled down on her support for Bitcoin while voicing significant concerns about Central Bank Digital Currencies (CBDCs). Lummis argues that Bitcoin can strengthen the U.S. dollar's position globally and views CBDCs as tools for potential government overreach and surveillance (Fox Business) (Fox Business).
Senator Lummis highlighted several key objectives in her interview:
- Opposition to Retail CBDCs: Lummis described CBDCs as "the beast," emphasizing her concern that they could be used by the government to monitor financial transactions closely.
- Protection of Self-Managed Bitcoin Wallets: She underscored the importance of allowing individuals to maintain control over their digital assets without excessive regulatory interference.
- Maintaining Dollar Supremacy: By advocating for Bitcoin reserves, Lummis believes the U.S. can fortify the dollar’s dominance in the 21st century (CCN).
This stance aligns with Lummis' ongoing efforts to promote pro-crypto legislation and her broader vision of fostering a regulatory environment that encourages innovation while providing clear guidelines for digital assets. Her comments come amidst a regulatory landscape that has often been at odds with the rapidly evolving cryptocurrency sector.
Senator Lummis' advocacy for Bitcoin and her critique of CBDCs marks a significant moment in the ongoing debate over the future of digital currencies in the United States. As this story develops, it will be crucial to watch how these discussions influence legislative actions and the broader acceptance of cryptocurrencies.
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Fox Business and CCN.com.
