Cynthia Lummis Leads New US Senate Digital Asset Subcommittee
The US senator advocating for a national strategic bitcoin reserve, Cynthia Lummis, has been appointed to lead the new digital asset subcommittee of the Senate Banking Committee.
Key points include:
- Lummis introduced the Bitcoin Reserve Bill aimed at acquiring 1 million BTC, approximately 5% of total supply.
- The bill restricts sales of BTC solely for reducing the national deficit.
- Lummis emphasized the belief that the US could become debt-free due to bitcoin.
- With her new position, progress on the reserve initiative may accelerate.
- Speculation regarding President Trump's potential executive order to create this stockpile has decreased.
- Lummis advocates for urgent bipartisan legislation to advance the reserve proposal.
The first hearing topic for the new subcommittee remains to be determined.