As a strong cryptocurrency advocate, Lummis has outlined an agenda to support and regulate digital assets.
Lummis Champions Bitcoin with a Clear Regulatory Agenda
One of the central tenets of Lummis’ vision is a firm opposition to retail CBDCs. She argues that retail CBDCs pose significant risks to privacy and financial autonomy. By opposing retail CBDCs, Lummis aims to prevent the centralization of financial power. This could potentially enable unprecedented surveillance and control over individual transactions. Instead, she supports a financial ecosystem where decentralized digital assets like Bitcoin play a pivotal role. This offers greater freedom and privacy to users.
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Lummis also advocates for clear protections for self-custody Bitcoin wallets. Self-custody, where individuals maintain control over their private keys and digital assets, is a fundamental principle in the cryptocurrency community. By ensuring legal protections for self-custody, Lummis aims to empower individuals to manage their financial assets without relying on third-party intermediaries. This stance aligns with the broader ethos of decentralization and personal sovereignty that underpins the Bitcoin movement.
Furthermore, Lummis is committed to restoring and maintaining the dominance of the US dollar in the global economy. She recognizes that the rise of digital assets presents both challenges and opportunities for the traditional financial system. By fostering innovation and providing a clear regulatory framework for digital assets, Lummis believes the US can harness the benefits of cryptocurrencies while reinforcing the dollar’s status as the world’s primary reserve currency.
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