Senator Lummis Still Relies on Bitcoin for His Retirement

The pro-crypto senator is unmoved by the continued “crypto winter” or by his colleagues’ proposals to limit the use of bitcoin in retirement plans. He believes that cryptocurrencies have a bright future.

Pro-crypto Despite being asked by several of her Senate colleagues to reconsider her views, United States Senator Cynthia Lummis has not wavered in her belief that Bitcoin should be included in a diversified investment portfolio for financial purposes. retirement. .

As it is, it appears that Representative Lummis is one of the few legislators in the United States who openly supports cryptocurrency. Along with Senator Kirsten Gillibrand, he has been a leading advocate of forward-thinking crypto legislation.

These comments reveal quite a different attitude than Lummis first suggested regarding retirement intentions in June 2021. Lummis plans to retire the following year.

It seems that the crypto winter and the ongoing FTX debacle may have prompted it to make some small adjustments to the views it previously held. It seems that she may have slightly changed her mind about the inclusion of other specific cryptocurrencies, even though she had previously advocated for their inclusion.

Instead, senators like Elizabeth Warren, Tina Smith, and Richard Durbin have used the current market turmoil to reaffirm their demands that Fidelity Investments scale back its Bitcoin-linked 401(k) retirement plan. These senators are located in a different area of ​​Capitol Hill. These senators can be found on the Democratic side of the aisle in the Senate chamber.

In a letter dated Nov. 21 to Fidelity CEO Abigail Johnson, the three senators emphasized the FTX issue as the primary reason for avoiding allowing Bitcoin exposure in retirement plans. The letter was sent to Fidelity. FTX is the Financial Technology Exchange.

Other senators have also joined the cryptocurrency discussion, with Jon Tester declaring earlier this week that he saw “no reason why” cryptocurrencies should exist at all and Elizabeth Warren ecstatically proclaiming that “now there are more people blowing the whistle.” Both statements were made by the senators.

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