Sen. Cynthia Lummis (R-Wyo.) disclosed buy of bitcoin value $50,001-$100,000, based on a Periodic Transaction Report filed Thursday.
Beneath the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) senators and senior employees with earnings above $119,554 are required to reveal sure monetary transactions. A part of the necessities means they have to report any buy, sale, or trade of any inventory, bond, commodities future, and different securities on transactions above $1,000.
The senator beforehand served eight years as Wyoming’s state treasurer and advised CoinDesk final yr that in her time as treasurer she had all the time been on the lookout for “one thing that was a great store-of-value.” Her son-in-law and his buddies helped educate the senator about bitcoin’s potential as a store-of-value, she stated, prompting her to leap on the bandwagon when the crypto was buying and selling for round $320.
Whereas a bitcoin advocate, Lummis slammed stablecoins throughout a speech on the Senate ground final week saying they “should be 100% backed by money … and this ought to be audited repeatedly” expressing her issues that cryptos pegged 1:1 to different sovereign fiat currencies lacked transparency.