Michaela
Senator Cynthia Lummis has addressed key legislative priorities β including the market structure and stablecoin bills, future crypto taxation, a potential national Bitcoin reserve stratΠ΅gy, and the role of Bitcoin miningβduring her appearance at the 2025 Bitcoin Conference.
Senator Lummis began her remarks by addressing the market structure and stablecoin legislation currently under consideration. She noted that, for many attendees at the Bitcoin 2025 Conference β particularly business owners and operators β the market structure bill likely holds greater significance than the stablecoin bill, given its broader implications for how digital asset firms operate within the U.S. regulatory environment.
βThere are businesses for pΠ΅ople who either buy and hold, so they want a custodial service or there are companies that lend Bitcoin, there is a futures market for Bitcoin, there are so many ways in which Bitcoin can interface with fiat currency with the US dollar,β Senator Lummis stated.
Senator Lummis also addressed her proposed framework for cryptocurrency taxation, noting that her office has submitted a detailed plan to the Senate Finance Committee. βCreate an opportunity for transactions to occur on a daily basis in Bitcoin. Everything from buying a cup of coffee to dinner somewhere. It would be helpful that certain transactions of that size below 600 dollars per transaction, not be subject to taxation,β Senator Lummis stated.
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Furthermore, Senator Lummis emphasized a major ongoing challenge in the regulation of digital assets. She pointed out that over the past four years, many regulatory bodies have adopted an adversarial stance toward the crypto sector. However, she noted that efforts are now underway to shift that approach toward a more constructive and balanced regulatory environment.
βIt doesnβt happen overnight. We donβt even have a confirmed IRS director in place yet, so it is really hard to get these structural changes enacted by the rule makers at the IRS when there is no IRS commission yet in place,β Senator Lummis said.
In closing the panel, Senator Lummis made a case for why the U.S. government should consider incorporating Bitcoin into its long-term financial strategy. Citing the nationβs $37 trillion debt, she proposed that acquiring and holding one million Bitcoin over a 20-year period could significantly reduce that burden. She added that underperforming government assets could be converted into Bitcoin holdings without the need for additional borrowing.
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βBitcoin is such an important Global Strategic asset and it is not only important in the economy, but in our global defense because there are components to our defense,β Senator Lummis remarked.
Senator Lummis noted that top U.S. military officials have also acknowledged Bitcoinβs potential as a strategic asset, suggesting it could serve as a deterrent against foreign thrΠ΅ats β particularly from nations like China.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure Π΅ngaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
