{"id":18842,"date":"2023-01-29T20:07:03","date_gmt":"2023-01-30T04:07:03","guid":{"rendered":"https:\/\/coinnetworknews.com\/us-senators-resolution-encourages-capitol-gift-shops-to-accept-cryptocurrency-regulation-bitcoin-news\/"},"modified":"2023-01-29T20:07:03","modified_gmt":"2023-01-30T04:07:03","slug":"us-senators-resolution-encourages-capitol-gift-shops-to-accept-cryptocurrency-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/us-senators-resolution-encourages-capitol-gift-shops-to-accept-cryptocurrency-regulation-bitcoin-news\/","title":{"rendered":"US Senator’s Resolution Encourages Capitol Gift Shops to Accept Cryptocurrency \u2013 Regulation Bitcoin News"},"content":{"rendered":"
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A U.S. lawmaker has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments. He stressed that lawmakers \u201cshould increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.\u201d<\/strong><\/p>\n

US Senator Advocates Crypto Payments<\/h2>\n

U.S. Senator Ted Cruz (R-TX) announced Thursday that he has reintroduced the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution. Cruz first introduced<\/a> this resolution in November 2021. The senator from Texas said:<\/p>\n

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Cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values and creating new hedges against inflation, and presenting new opportunities. It is also increasingly being used as a secure form of payment for goods and services.<\/p>\n<\/blockquote>\n

\u201cThis is precisely why we, here at the United States Capitol, should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill,\u201d he added.<\/p>\n

Senator Cruz\u2019 explained that his bill \u201cwould require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency as a form of payment.\u201d They would also be required \u201cto enter into contracts with vendors who accept cryptocurrency as payment for food service and in vending machines within the Capitol complex.\u201d<\/p>\n

Cruz further said:<\/p>\n

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An added advantage of using cryptocurrency as a form of payment in the Capitol is that it would provide foreign tourists who visit our nation\u2019s capital each year with a safe and secure payment option without the need to pay unnecessary and often costly currency exchange fees.<\/p>\n<\/blockquote>\n

The lawmaker has long been a pro-bitcoin senator. In May last year, he said he is \u201cincredibly bullish<\/a>\u201d on bitcoin. \u201cI have a weekly buy that\u2019s an automatic buy every week of bitcoin because I believe in dollar-cost averaging,\u201d he noted at the time.<\/p>\n

Senator Cruz also introduced a bill in April last year to prohibit the Federal Reserve<\/a> from developing a direct-to-consumer central bank digital currency (CBDC) \u201cwhich could be used as a financial surveillance tool by the federal government, similar to what is currently happening in China,\u201d Cruz noted.<\/p>\n

What do you think about Senator Ted Cruz pushing for gift shops on Capitol Hill to accept payments in cryptocurrency? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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