{"id":25773,"date":"2024-07-25T23:00:53","date_gmt":"2024-07-25T20:00:53","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25773"},"modified":"2024-07-25T17:24:50","modified_gmt":"2024-07-25T14:24:50","slug":"senator-cynthia-lummis-proposes-strategic-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/senator-cynthia-lummis-proposes-strategic-bitcoin-reserve\/","title":{"rendered":"Senator Cynthia Lummis Proposes Strategic Bitcoin Reserve"},"content":{"rendered":"<p>Legislatively speaking, pro-crypto <strong>Senator Cynthia Lummis<\/strong> is poised to have a major influence on the sector. A <a href=\"https:\/\/www.foxbusiness.com\/politics\/wyoming-sen-lummis-plans-announce-legislation-strategic-bitcoin-reserve-nashville-conference\">Fox Business article on July 24<\/a> reveals the Wyoming Republican intends to present her idea for a Strategic Bitcoin Reserve at the forthcoming Bitcoin Conference in Nashville. This law would be a major step toward incorporating Bitcoin into conventional banking systems.<\/p>\n<p>Like it does for gold and foreign currencies, the proposed measure seeks to mandate the Federal Reserve to maintain Bitcoin as a strategic reserve asset. This action might make Bitcoin a vital part of US monetary system management and the value stabilization of the US dollar.<\/p>\n<p>Still, people familiar with this issue claim the details of the bill are unknown. Insiders disclose that the announcement might take place on Saturday, right before former President Donald Trump&#8217;s planned speech. <strong>Lummis<\/strong> might also talk about the measure during a Friday fireside discussion moderated by former Democratic Representative Tulsi Gabbard, now a Trump supporter.<\/p>\n<p>Moreover, the report states that <strong>Lummis<\/strong> has been aggressively asking her Senate Banking Committee colleagues for help. Her goal in finding co-sponsors is to increase the likelihood of the measure passing the legislative process. <strong>Lummis<\/strong> has not formally verified the specifics, but her last tweet suggesting &#8220;<em>big things in store this week<\/em>&#8221; has generated conjecture.<\/p>\n<p>For the crypto community, the forthcoming Bitcoin Conference on July 25\u201327 is seen as historic. Attracting important industry leaders and well-known politicians like presidential contenders Donald Trump and Robert F. Kennedy Jr., the conference promises to be a vital forum for debating the direction of digital assets.<\/p>\n<p>Vice President Kamala Harris was under negotiation for one of the conference speakers, according to prior BeInCrypto reporting. But in the most recent updates, David Bailey, CEO of Bitcoin Magazine\u2014the planner of the Bitcoin Conference\u2014announced that Harris will not be presenting at the event.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Legislatively speaking, pro-crypto Senator Cynthia Lummis is poised to have a major influence on the sector. A Fox Business article on July 24 reveals the Wyoming Republican intends to present her idea for a Strategic Bitcoin Reserve at the forthcoming Bitcoin Conference in Nashville. This law would be a major step toward incorporating Bitcoin into<\/p>\n","protected":false},"author":6,"featured_media":25774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[7601],"class_list":["post-25773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-senator-cynthia-lummis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Senator Cynthia Lummis Proposes Strategic Bitcoin Reserve - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/senator-cynthia-lummis-proposes-strategic-bitcoin-reserve\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senator Cynthia Lummis Proposes Strategic Bitcoin Reserve - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Legislatively speaking, pro-crypto Senator Cynthia Lummis is poised to have a major influence on the sector. 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