US Senator Cynthia Lummis reiterated her confidence in bitcoin. Despite the concerns of lawmakers regarding cryptocurrencies, Lummis believes that bitcoin should be included in retirement plans.
In a recent interview, Cynthia Lummis noted that the prolonged crypto winter has not shaken her opinion on bitcoin, and the senator still wants this crypto asset to be included in 401(k) retirement plans.
Lummis explained that bitcoin is different from other digital assets, and its main advantage lies in the limited supply of 21 million coins. It is this factor that will contribute to the further growth of the BTC rate, the senator is sure. Previously, Lummis offered to include other crypto assets in pension plans, however, due to the fiasco of the FTX exchange, her position has changed slightly.
“I would like people to be able to use bitcoin and other cryptocurrencies of their choice, however, these crypto assets must comply with the Anti-Money Laundering Act and the Bank Secrecy Act. This is necessary to ensure the safety of users,” the senator said.
Lammis is considered one of the few politicians who is friendly to cryptocurrencies and pushes for their progressive regulation. Previously, she proposed to the US Federal Reserve System (FRS) to buy bitcoin for long-term storage, but lawmakers reacted to her idea with skepticism.
Lummis’ proposal to include bitcoin in retirement savings also does not find support among her colleagues. In November, three senators demanded that Fidelity Investments no longer offer bitcoin-related services to retirees.
Source: Bits
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