Senator Cynthia Lummis’s Bitcoin Bombshell: Could Crypto Replace Gold in the US Treasury? What To Expect?

Quick Summary:

Cody Carbone, the Digital Chamber’s chief policy officer, views this bill as a hedge against inflation and economic volatility.

Sources familiar with the draft legislation indicate that a key aspect of Lummis’ bill is its potential to strengthen the U.S.dollar, which is currently supported only by the country’s taxing authority and not by any hard asset.

Like gold, Bitcoin could serve as a vital reserve asset for the US.

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Article Details

Author / Journalist: Elena R

Category: Crypto

Markets: United States

Topics: News Crypto Regulations

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 05:31:44 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 465 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 13 words per sentence (average)

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

Copyright Owner: © Coinpedia

News ID: 21894736

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Main Topics: Crypto

Official Website: coinpedia.org

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News Last Updated: 8 hours ago

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