Senator Cynthia Lummis’ proposed Bitcoin bill is receiving widespread support from Americans.
The BITCOIN (Boosting Innovation, Technology, and Competitiveness through Optimised Investment Nationwide) Act, proposed by Lummis, was introduced to the Senate on July 31.
This bill aims to create clear rules for Bitcoin, helping it integrate into the financial system while protecting consumers. If passed, it could boost innovation and investment in the cryptocurrency sector. Potential outcomes include increased Bitcoin adoption, more investment in crypto businesses, and better consumer protections.
According to Dennis Porter, founder of the Satoshi Action Fund, over 2,200 letters have been sent to senators, including 1,333 to Democrats, 850 to Republicans, and 41 to Independents. The bill aims to counter dollar debasement and make America “debt-free.”
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The growing support shows a strong public interest in formalising Bitcoin’s role in the economy, reflecting the increasing acceptance of digital currencies in the US.
Thousands of Americans have written to their senators, urging them to back Lummis’ “strategic Bitcoin reserve” bill, announced on July 27 at the Bitcoin 2024 conference.
Senator Lummis expressed her gratitude for the overwhelming support for her proposed Bitcoin bill.
The bill also aims to protect the rights of private Bitcoin holders to manage their own assets and ensures that the strategic Bitcoin reserve will not infringe on individual financial freedoms. Politicians, including presidential hopeful Donald Trump, have publicly supported the bill.
Former President Donald Trump is currently receiving significant support from the American population and various political figures.
Senator Cynthia Lummis has endorsed Trump for the 2024 presidential election, showing strong support for his candidacy. This endorsement aligns her with other prominent Wyoming politicians who have also backed Trump, emphasising dissatisfaction with the current administration under President Biden. Lummis criticised Biden’s handling of the economy and immigration, positioning Trump as the leader needed to rectify these issues.
Read also: FBI Warns of Scammers Posing as Crypto Exchange Employees
Senator Lummis’ Bitcoin Bill Gains Strong Support from Americans
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