Federal Reserve To Own Bitcoin? Senator Lummis Proposes Legislative Update

Quick Summary:

In an interview with Yahoo Finance, US Senator Cynthia Lummis of Wyoming outlined a proposal to grant the Federal Reserve the authority to hold Bitcoin as part of the United States’ official reserves.

Although Bitcoin has existed for only 15 years, she views its long-term trajectory as overwhelmingly positive.

The Federal Reserve Act says what we can’t own [it], and we’re not looking for a law change.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: HungaryUnited States

Topics: Bitcoin price US Federal Reserve Bitcoin News BTC news Bitcoin news Bitcoin Btc Fed US Senator Cynthia Lummis Btc price BITCOIN Act

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-21 @ 04:00:08 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 626 words

Reading Time: 4 minutes read

Sentences: 37 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 24572578

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About Bitcoinist

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Official Website: bitcoinist.com

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Year Established: 2014

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News Last Updated: 8 hours ago

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