Senator Cynthia Lummis Backs Crypto for US Retirement Plans
Pro-Bitcoin Senator Lummis wants to see US residents turn to Bitcoin and crypto as part of their diversified retirement plans
Senator Cynthia Lummis backs crypto for US retirement plans
“Speaking during the CNBC Financial Advisor Summit on June 29, Senator Lummis stated she would like to see Bitcoin and other crypto-assets become a normal part of diversified asset allocations used for retirement funds in order to protect the from inflation.
‘I’d also like to see individuals be able to use Bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act,’ she added.
Lummis emphasized the importance of maintaining a ‘diverse asset allocation’ — warning of the inflation risks caused by government spending and money printing:
‘The Congress spends trillions and trillions of dollars, and is flooding our economy and the world economy with U.S. dollars, there’s no way that we cannot debase the value of the U.S. dollar.’”