Bitcoin owner Cynthia Lummis elected to Senate

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Wyoming has elected Republican bitcoin owner, Cynthia Lummis to the Senate. Cryptocurrency experts and analysts expect her to advocate for the cryptocurrency industry in Washington.
Lummis, who bought Bitcoin in 2013, will be the first elected senator to own cryptocurrency, according to Fortune. Her son-in-law, Will Cole, is currently the chief product officer at Unchained Capital, a Bitcoin native financial services firm, Cointelegraph confirmed.
Lummis, a former congresswoman, won in a landslide against Democratic challenger Merav Ben-David. She got over 73% of the total votes in the GOP stronghold, which has been very open to crypto institutions.
Caitlin Long, CEO and founder of Avanti Financial, which received a special-purpose depository institution (SPDI) charter in Wyoming, believes that the senator will become an advocate in the industry, per Fortune.
“In typical Wyoming fashion, we’re sending someone to D.C. who respects individual rights, and especially the right to keep the fruits of our labor,” she said, adding that Lummis believes in the philosophy behind BTC, which is more than just being an asset class.
Long also tweeted that Lummis aims to defend cryptocurrency “against federal encroachment.”
Last September, Kraken Financial, a popular cryptocurrency exchange, successfully applied and received approval to become an SPDI bank in Wyoming. This made Kraken the first exchange that has a bank charter in the US. In becoming a bank, Kraken has more “regulatory passport” versus non-bank financial institutions that need to manage its compliance state by state.
The University of Wyoming also recently announced the launch of its Center for Blockchain and Digital Innovation, which enables students to learn more about blockchain and cryptocurrency in a university setting.
Neeraj Agrawal, a spokesperson for cryptocurrency research think tank Coin Center, told Fortune that it is unlikely that the views of both legislative chambers toward cryptocurrencies change anytime soon, but he hopes lawmakers will have time to observe issues about crypto next year. He also said that he hopes Lummis’ presence in the Senate could benefit the industry.
“Senator-elect Lummis has shown an interest in cryptocurrency issues, which is great to see. We are looking forward to working with her,” Agrawal said.

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