May 26, 2024


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Senator Cynthia Lummis Is Still Comfortable With Retirement Plans With Bitcoin

The pro-crypto senator has remained steadfast despite requests from other lawmakers and the crypto cold to outlaw BTC in retirement accounts.

Pro-crypto Notwithstanding appeals by her Senate colleagues to the contrary, US Senator Cynthia Lummis has stayed steady in her backing for Btc as a component of varied retirement plans.

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Cynthia Lummis has made a notable effort to advance gradual crypto regulation along with Senator Gillibrand and appears to be among the few publicly crypto-friendly pols in the US at the moment.

On December 12, Lummis said in an interview with the website Semafor that now the crypto winter had not changed her mind on Bitcoin and she still wanted to see the commodity incorporated in 401(k) retirement accounts in the US.

These remarks represent a small shift from Cynthia Lummis’ earlier position on retirement accounts from June 2021.

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She had supported the addition of further specific cryptos just on time, but it looks that the subsequent FTX fiasco as well as the crypto cold may have somewhat changed her views.

Senator Cynthia Lummis Is Comfortable With The Retirement Planning:

Senators like Tina Smith, Durbin, and Elizabeth Warren instead have utilized the latest market turbulence to restate their demands for Fidelity Investments to roll back their Bitcoins linked 401(k) retirement scheme.

The 3 senators cited the FTX fiasco as a key factor in their Nov. 21 letter to Fidelity CEO Johnson asking the company to stop including BTC risk in retirement accounts.

Jon Tester this week stated that he saw “no reason why” cryptocurrency should function at all, while Elizabeth Warren joyfully said that “finally there are now more people ripping the bs whistle.” Other senators have recently joined the conversation over cryptocurrency.