- With only more than half a year away from the 2024 US Presidential and Senatorial Elections, Republican Senator Cynthia Lummis recommended engaging the candidates, especially the ones running for the Senate, about their platforms related to cryptocurrencies.
- She thinks that the future leadership of the Senate Banking Committee will be vital in shaping the crypto regulations in the country.
- The Wyoming senator criticized fellow Senator Elizabeth Warren for her negative stance on crypto and other digital assets.
Speaking at the Bitcoin Policy Summit on Tuesday in Washington, DC, the incumbent senator representing the State of Wyoming stated that the Senate Banking Committee will likely tackle more issues related to crypto. With that, she encouraged stakeholders in the sector to be more vigilant in questioning the plans of the upcoming leadership. She likewise reminded that the Ohio election will be crucial in the determination of both the Senate majority and the chair of the Banking Committee.
Cynthia Lummis Endorses Crypto-Friendly Candidates
Lummis’ remarks were an indirect endorsement of her party-mate Bernie Moreno who is challenging Democrat Senator Sherrod Brown in the Ohio polls. The challenger is a businessman currently serving as the president of Bernie Moreno Companies running a diverse portfolio including blockchain, vehicle subscription services, and consumer applications.
In contrast to this, Brown has been known for his antagonistic stance toward digital assets. This was exhibited in his reluctance to allow the passage of bills that would have contributed to the regulatory clarity of the industry.
Yes, it’s the same issue that crypto-related companies have been asking the US Securities and Exchange Commission (SEC) and the legislation to provide to them in light of the barrage of lawsuits they have been getting from government watchdogs due to their businesses operating in the dark when it comes to the matter.
A Critique of the Crypto Pundits
Lummis believes the subject of digital assets would play a critical role in the race. So, she took several potshots at Brown who “seems to have Elizabeth Warren whispering in his ear on this topic.”
For context, Senator Warren (D-MA) has been known for her constant criticism of cryptocurrencies and the overall digital assets sector. However, she had been called out by several experts on the field for her tendency to mix sweeping statements and misleading information in her rhetoric in and out of the Senate floor.
The Wyoming senator emphasized that the present head of the Banking Committee is what’s deterring progress in the crypto assets niche.