Wyoming voters have elected former congresswoman and bitcoiner Cynthia Lummis to the US Senate.
Lummis will be the first member of the Congress’s upper chambers to own BTC, at least to declare so publicly, which she first bought in 2013.
Members of the House of Representatives, like the former chair of the Judiciary Committee Bob Goodlatte, have disclosed in the past that they own crypto but no US Senator, until now.
Meanwhile, Lummis’s home state is establishing as a haven for crypto businesses. The state has passed several crypto favorable laws and recently granted charters to two businesses to become crypto banks.
“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. Cynthia believes in the philosophy behind Bitcoin, not just that it is a new asset class,” said Caitlin Long, the CEO of one of the crypto banks, Avanti Financial, in an interview.
She predicted that Lummis would advocate for the crypto industry and tweeted, “(Lummis) LOVES what Wyoming did in crypto—publicly said tonight that she wants to defend it against federal encroachment.”
AWESOME NEWS for #crypto folks from the crazy US election tonight—@CynthiaLummis won #Wyoming’s US Senate seat!! The US Senate now has an unabashed #bitcoin supporter & HODLer (since 2013) among its ranks!! CONGRATS Cynthia! @willcole @CynthiaMLummis 🤠🚀🔥 pic.twitter.com/8SCF9pkRSg
— Caitlin Long 🔑 (@CaitlinLong_) November 4, 2020
Although the fast-growing crypto industry has got a bitcoiner on its side, the market, which is extremely excited, shouldn’t expect major changes to be coming anytime soon. The industry faces significant regulatory headwinds in the form of taxation and is seen as a vehicle for money-laundering.