Saturday, April 13, 2024

US Senator Advocates for Crypto Payments in Capitol.

Senator Ted Cruz, a vocal advocate of cryptocurrency, has reintroduced the “Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution” (ACCEPT Resolution).

He said cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values, and creating new hedges against inflation. Cruz believes cryptocurrency brings about new opportunities. The lawmaker highlighted that digital assets are increasingly being used as a secure form of payment for goods and services. Cruz said this is the reason the US Capitol should increase accessibility and show its support for the burgeoning crypto industry to those who visit the Capitol.

The Texas Republican introduced a concurrent resolution to allow vending machine and food service contractors that accept crypto as a payment option within the US Capitol. Cruz is one of the vocal supporters of the growing crypto-mining industry as well. In 2022, he wanted Texas to be an oasis on Earth for Bitcoin and crypto. Cruz has often highlighted the need for members of Congress to be more educated when it comes to crypto. Moreover, the lawmaker has publicly disclosed his own cryptocurrency holdings.

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