US Senator’s Decision Encourages Capitol Reward Retailers to Settle for Cryptocurrency – Regulation Bitcoin Information

A U.S. lawmaker has launched a decision that encourages Capitol reward outlets to just accept cryptocurrency funds. He careworn that lawmakers “ought to improve accessibility and sign our help for the burgeoning cryptocurrency business to those that go to Capitol Hill.”

US Senator Advocates Crypto Funds

U.S. Senator Ted Cruz (R-TX) introduced Thursday that he has reintroduced the Adopting Cryptocurrency in Congress as an Trade of Fee for Transactions (ACCEPT) Decision. Cruz first launched this decision in November 2021. The senator from Texas stated:

Cryptocurrency is producing new jobs, encouraging entrepreneurs to invent new values and creating new hedges in opposition to inflation, and presenting new alternatives. It’s also more and more getting used as a safe type of fee for items and providers.

“That is exactly why we, right here at america Capitol, ought to improve accessibility and sign our help for the burgeoning cryptocurrency business to those that go to Capitol Hill,” he added.

Senator Cruz’ defined that his invoice “would require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the Home of Representatives to encourage Capitol reward outlets to just accept cryptocurrency as a type of fee.” They might even be required “to enter into contracts with distributors who settle for cryptocurrency as fee for meals service and in merchandising machines throughout the Capitol complicated.”

Cruz additional stated:

An added benefit of utilizing cryptocurrency as a type of fee within the Capitol is that it could present overseas vacationers who go to our nation’s capital every year with a secure and safe fee choice with out the necessity to pay pointless and sometimes pricey foreign money change charges.

The lawmaker has lengthy been a pro-bitcoin senator. In Might final yr, he stated he’s “extremely bullish” on bitcoin. “I’ve a weekly purchase that’s an computerized purchase each week of bitcoin as a result of I consider in dollar-cost averaging,” he famous on the time.

Senator Cruz additionally launched a invoice in April final yr to prohibit the Federal Reserve from growing a direct-to-consumer central financial institution digital foreign money (CBDC) “which may very well be used as a monetary surveillance device by the federal authorities, comparable to what’s at present taking place in China,” Cruz famous.

What do you consider Senator Ted Cruz pushing for reward outlets on Capitol Hill to just accept funds in cryptocurrency? Tell us within the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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