US Senator

Last month, Fidelity announced that it would begin allowing customers to include Bitcoin in their 401(k) retirement accounts. However, as with most things crypto-related, US Senator Elizabeth Warren is highly skeptical of the idea. Questioning Fidelity The senator issued a letter to Fidelity CEO Abigail Johnson on Wednesday, questioning the “appropriateness” of her company’s decision. Warren claimed that cryptocurrencies pose risks of “fraud, theft and loss,” citing the Department of Labor’s warning to 401(k) fiduciaries. The labor department’s warning was…

Senator Cynthia Lummis (R-WY) revealed more information about the bipartisan crypto regulatory framework she’s creating alongside Kirsten Gillibrand (D-NY). The bill will help sort cryptocurrencies under the same regulatory categories as traditional assets, but will apparently not cover NFTs. Separating the Wheat from the Chaff In an interview with Axios on Tuesday, Lummis explained that the bill strikes a balance between protecting investors and allowing for innovation. “The innovation in this space is absolutely astounding,” she said. Lummis is famous…

Cynthia Lummis – a Bitcoin-bullish Republican Senator – believes Bitcoin is destined to be adopted as a common means of exchange. She currently considers it a “commodity” but expects it to become a currency “really fast”, thanks to the lightning network. Bitcoin’s Evolution In conversation with MSNBC’s Chuck Todd on Meet the Press, Lummis went deep on Bitcoin’s currency status, and regulatory relationships. She explained that under the new bill she’s designing alongside Senator Gillibrand, they’d see it regulated like…