Wyoming senator Cynthia Lummis has acknowledged that the United States has crossed the chasm concerning Bitcoin (BTC), maintaining that the asset is here to stay with no room to ban it.
Lummis made the remarks on June 8 through her Twitter account in response to Microstrategy CEO Michael Saylor, who noted that people are realizing that Bitcoin is real and unique.
“I don’t want to understate how tough the road is ahead for our bill but I do agree that America has crossed the ‘chasm’ of ‘is this real’ (yes) and ‘will it be banned’ (no). The questions/challenges are different now,” Lummis said.
According to Saylor, with top state officials acknowledging that Bitcoin is central to the U.S. financial future, there is a bullish expectation on how the government interacts with the flagship cryptocurrency.
Rough path ahead before enacting crypto bill into law
The senator’s take on the state of Bitcoin comes just a day after the lawmaker officially presented the crypto regulatory bill before the United States Congress. The Bitcoin-friendly lawmaker admitted that the proposed law has a long path ahead before formally becoming law.
Baltrusaitis, J. (2022, June 8). U.S. senator Lummis: America has ‘crossed the chasm,’ says Bitcoin will not be banned. Finbold. Retrieved June 9, 2022, from https://finbold.com/u-s-senator-lummis-america-has-crossed-the-chasm-bitcoin-will-not-be-banned/