Among the upcoming Senate races that will determine who will head the Senate Banking Committee, Republican Sen. Cynthia Lummis expects cryptocurrency to be a hot issue. Candidates should be required to address questions on their stances on digital assets at public forums during the elections, she urged crypto fans to attend.
According to U.S. Senator Cynthia Lummis (R-Wyo.), who is from the cryptocurrency business, industry insiders should make sure that the upcoming high-stakes Ohio election—which could determine the Senate majority and the head of the Senate Banking Committee—dives into cryptocurrency concerns.
Despite some progress in the House of Representatives, crypto skeptic and current Senate chairman of the Banking Committee, Sen. Sherrod Brown (D-Ohio), whose party presently controls the Senate, has been hesitant to allow proposals regulating digital assets to pass through the committee.
Lummis, a committee member for Brown, said on Tuesday that digital assets might play a pivotal role in his upcoming Ohio general election battle with Republican Bernie Moreno, an Ohio businessman and crypto phile who started a blockchain company.
She made the suggestion at a Bitcoin Policy Institute event in Washington that those who are in favor of the business should show up at the candidates' public forums about crypto and make sure they answer questions about it.
She continued by saying, "Have people in the crowd to ask questions," and then went on to say that Brown "seems to have Elizabeth Warren whispering in his ear on this topic," a reference to the Massachusetts Democratic senator who is traditionally considered crypto's worst enemy in Congress.
Another Democrat on the Senate Banking Committee who will likely play a significant role in any future crypto legislation is Sen. Jon Tester (D-Mont.), whom Lummis also brought up in reference to the Montana campaign. On the subject of blockchain technology and cryptocurrency, she claimed she had been "trying to educate" her Republican opponent.
Sen. Kirsten Gillibrand (D-N.Y.), with whom Lummis worked on a number of important crypto legislation bills, is also up for reelection this year, as Lummis pointed out.
At the same event, House Financial Services Committee chairman Rep. Patrick McHenry (R-N.C.) expressed optimism that lawmakers may be able to pass a stablecoin bill this year. Nevertheless, with the elections heating up this year, the time available for legislative action is dwindling.
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