US Senator Cynthia Lummis intends to launch the Financial Innovation Caucus to ‘teach’ the knowledge of cryptocurrencies and digital assets to other senators.
Lummis, the first senator to own Bitcoin (BTC) revealed the matter in today’s Anthony Pompliano podcast; "We look forward to educating the Senate and other officials on Bitcoin, including cryptocurrency opportunities and financial and blockchain innovation."
The first thing to be emphasized in the caucus is to refute the conflicting narrative about digital and crypto assets that are often associated with money laundering, while studies from Chainalysis show that cryptocurrency crime is much lower than cash crime.
He further explained that Lummis himself had met with the Secretary of the Treasury, Janet Yellen and described the woman as an open person about the use of cryptocurrencies.
However, the senator said that many things need to be scrutinized and refined so that discussions on cryptocurrencies can be done openly without any negative perceptions involving criminal activity.
"Crypto law needs to be reconsidered to open the door to innovation," he said.
Senator Lummis bought BTC in 2013 and 2014, equating the crypto king with a permanent mineral trust fund while serving as Wyoming county treasurer in the 2000s.
“The concept of permanent mineral trust fund is that when mineral resources are depleted, we still have the remaining income because we invest in revenue and continue to invest in various asset allocations. Bitcoin reminds me of a permanent mineral fund. ” he said.
