US Senator Lummis Says Bitcoin Reserve Can Restore Dollar Dominance

In a recent statement, US Senator Cynthia Lummis emphasized the potential of Bitcoin reserves to strengthen the US dollar’s global dominance. Known for her pro-crypto stance, Lummis expressed her views during a Fox interview, highlighting the importance of individual Bitcoin wallets and the rejection of Central Bank Digital Currencies (CBDCs). Besides, the latest comment of Lummis also highlights her focus on the American’s freedom over their money.

US Senator Lummis Advocates Bitcoin Reserves

US Senator Lummis firmly opposes the implementation of CBDCs, describing them as tools for government surveillance of the American people. In addition, she advocates for allowing individuals to hold and control their own Bitcoin wallets, emphasizing financial sovereignty.

Senator Cynthia Lummis is widely known for her pro-crypto mindset and is also known as “Crypto Queen” on Capitol Hill. Meanwhile, in her latest interview, Lummis said “We want to make sure people can have individual wallets for their Bitcoin” so that the American people can have unrestricted access to their own money.

Meanwhile, Lummis believes that integrating Bitcoin into the US financial system could reinforce the strength of the US dollar. She asserts that holding Bitcoin reserves can play a crucial role in maintaining the dollar’s dominance. “We know that we want the US Dollar to remain strong. Having Bitcoin in reserves can actually help the US dollar to remain strong,” she said.

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Push Towards Clear Crypto Regulation

Senator Lummis shared her pro-Bitcoin agenda on the X platform along with the interview clip. Notably, the agenda outlines her vision for the future of digital assets. It includes rejecting retail CBDCs, protecting the self-custody of Bitcoin wallets, and restoring the dollar’s dominance in the 21st century.

“Bitcoin and digital assets are the future,” Cynthia Lummis posted. In her X post, she said:

Here’s my agenda: No retail Central Bank Digital Currencies, clear protections for self-custody Bitcoin wallets, restore Dollar Dominance for the 21st Century.

Meanwhile, the US Senator has consistently voiced her support for decentralized finance (DeFi) and the protection of property rights. In a previous statement from May, she emphasized the fundamental importance of decentralization and resistance to censorship.

Notably, the US Senator’s pro-crypto stance contrasts with the current regulatory environment in the U.S., which many crypto leaders criticize for its lack of clarity. However, Lummis hopes to see changes that will provide a more favorable regulatory framework for digital assets, encouraging innovation and growth in the sector.

Meanwhile, her advocacy for Bitcoin and digital assets reflects a broader push for financial innovation and the protection of individual financial sovereignty in the digital age.

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