ChainCatcher news, according to Cryptoslate, U.S. Senator Cynthia Lummis from Wyoming believes that SEC Chairman Gary Gensler may resign from his position at the regulatory agency next year. She made the remarks on CNBC's Squawk Box on September 27, in response to the host stating that Gensler "loves this job" and does not want to leave it. She added, "I don't believe that will happen, especially if Trump is elected president." However, she also stated that she could not confirm if the same would be true if Vice President Kamala Harris were elected.Additionally, Lummis stated that Gensler does not "fully recognize" that Bitcoin and Ethereum are commodities. Lummis further indicated that other cryptocurrencies may be commodities, but did not specify: "We need to have a clear definition. We can use the Howey test, and as it gets updated, there may be other assets besides Bitcoin and Ethereum that qualify for the jurisdiction of the Commodity Futures Trading Commission."It is worth noting that Gensler reiterated on September 26 during his appearance on Squawk Box that the SEC views Bitcoin as a commodity. However, during the congressional hearing on September 24, he did not comment on the status of Ethereum.

ChainCatcher news, according to CoinDesk, U.S. Senator Cynthia Lummis stated on Wednesday that the window for cryptocurrency legislation in 2024 is closing, but there is still a possibility of passing some bills this year.During a brief appearance at SALT, Lummis and Scott also called on voters, stating that Republicans are more supportive of the interests of the cryptocurrency industry than Democrats. Scott, the top Republican on the Senate Banking Committee, has rarely spoken out on cryptocurrency during his tenure as a senior member of the committee. However, at last month's Bitcoin Nashville conference, he called for more lenient regulators and stated that he would support crypto-friendly legislation.If control of the Senate falls into Republican hands, Scott would become the chairman. On Wednesday, he suggested that if he were to hold that position, there could be a subcommittee focused on digital assets, "so we can make the dialogue clearer, hold more hearings on the banking industry, and get our work done faster. We will go further and faster in a shorter amount of time."

ChainCatcher news, according to Cointelegraph, within 48 hours, U.S. senators received over 2,200 letters urging them to jointly initiate and support the "Bitcoin Strategic Reserve Act" proposed by Cynthia Lummis.Among them, the Democrats received 1,333 letters, the Republicans received 850 letters, and independents received 41 letters.

ChainCatcher News, U.S. Senator Cynthia Lummis from Wyoming officially introduced the "Bitcoin Strategic Reserve Act" on July 31, local time. This act will instruct the U.S. government to begin establishing a reserve fund for scarce decentralized assets.More specifically, the act will create a "decentralized secure Bitcoin network treasury" controlled by the U.S. Department of the Treasury. The act also instructs lawmakers and bureaucrats to develop strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. The act also proposes a goal of gradually accumulating 1 million Bitcoins.

ChainCatcher News, U.S. Senator Cynthia Lummis's new strategic Bitcoin reserve plan will provide partial funding for cryptocurrency purchases by revaluing the gold certificates held by the Federal Reserve System.The plan requires setting aside $6 billion from any net profits transferred from the Federal Reserve to the Treasury from fiscal year 2025 to fiscal year 2029, and reducing the discretionary surplus funds of the Federal Reserve Banks from $6.825 billion to $2.4 billion, which is the level currently mandated by the Federal Reserve Act.According to the plan, within six months of the legislation taking effect, the Federal Reserve Banks will submit all outstanding gold certificates to the Secretary of the Treasury. Within 90 days thereafter, the Secretary of the Treasury will issue "new gold certificates reflecting the fair market price of gold" to the Federal Reserve Banks. The Federal Reserve Banks will then transfer the cash value difference between the old certificates and the new certificates to the Secretary of the Treasury.According to the bank's recent balance sheet update, as of July 24, the Federal Reserve Banks hold $11 billion in "gold reserves." This valuation may be based on the official U.S. book value used by the New York Federal Reserve Bank to assess its gold, which is $42.22 per troy ounce.

ChainCatcher news, friendly U.S. Senator Cynthia Lummis posted on X platform stating that the U.S. national debt has reached $35 trillion, and Bitcoin's strategic reserve can stop this out-of-control train.This week, U.S. national debt has surpassed $35 trillion for the first time. According to the Congressional Budget Office, as spending and interest expenses grow beyond tax revenue, the national debt is projected to reach $56 trillion by 2034.

ChainCatcher news, Senator Lummis announced on Saturday that she will propose a bill for the U.S. Treasury to purchase 1 million bitcoins within 5 years.George Selgin, the honorary director of the Cato Institute's Center for Monetary and Financial Alternatives, stated that the actual plan is completely different from what Lummis presented on the Bitcoin 2024 stage, and the plan is far less ambitious.Although the details of Lummis's plan have not been disclosed, according to George Selgin's conversation with Lummis's office, the legislation only "indirectly" involves the Federal Reserve and has nothing to do with "bank reserves." In fact, the plan is more moderate, as the Federal Reserve will not acquire any bitcoins (although it will participate in the process). Only the Treasury will acquire them.George Selgin's biggest skepticism is why the Treasury should hold any gold or bitcoins in the first place. He suggested that the Treasury sell its gold on hand to directly pay off debt or fund other efforts, rather than holding large amounts of assets.

ChainCatcher news, according to The Block, Senator Cynthia Lummis stated that she will introduce a bill next week directing the U.S. Treasury to purchase 1 million bitcoins (worth approximately $69 billion) over the next five years. She indicated that this move is intended to offset the impact of the dollar's depreciation.She stated that the bill will require the U.S. Treasury to securely hold the bitcoins in "multiple geographic locations." The government will hold these tokens for at least 20 years, unless they are sold to "reduce debt."

ChainCatcher news, the 2024 Bitcoin Conference will feature numerous politicians speaking today, including Senator Cynthia Lummis and independent presidential candidate Robert F. Kennedy Jr.In addition, heavyweight guests such as Michael Saylor, Executive Chairman of MicroStrategy, Cathie Wood, CEO of ARK Invest, and cybersecurity expert Edward Snowden will also be speaking.Keynote Speeches to Watch Today:Topic: SAYLOR KEYNOTETime: 2:00 PM - 2:30 PM (Beijing Time: July 27, 3:00 AM - 3:30 AM)Guest: Michael Saylor, Executive Chairman of MicroStrategyTopic: BITCOIN & MACRO INVESTMENT TRENDSTime: 2:30 PM - 3:00 PM (Beijing Time: July 27, 3:30 AM - 4:00 AM)Guests: Cathie Wood, CEO of ARK Invest; Alyse Killeen, Founder of StillmarkTopic: FOR LOVE OF COUNTRY & BITCOINTime: 3:00 PM - 3:30 PM (Beijing Time: July 27, 4:00 AM - 4:30 AM)Guests: Cynthia Lummis, U.S. Senate; Tulsi Gabbard, LTC, US Army ReserveTopic: SNOWDEN KEYNOTETime: 3:30 PM - 4:00 PM (Beijing Time: July 27, 4:30 AM - 5:00 AM)Guest: Edward Snowden, Cybersecurity ExpertTopic: RFK KEYNOTETime: 4:00 PM - 4:30 PM (Beijing Time: July 27, 5:00 AM - 5:30 AM)Guest: Robert F. Kennedy, Jr., Kennedy Campaign Independent Presidential CandidateTopic: Q&A WITH RFKTime: 4:30 PM - 5:00 PM (Beijing Time: July 27, 5:30 AM - 6:00 AM)Host: Natalie Brunell, Coin Stories and Hard MoneyGuest: Robert F. Kennedy, Jr., Kennedy Campaign Independent Presidential CandidateTopic: BITCOIN IS FREEDOM OF SPEECHTime: 4:30 PM - 5:00 PM (Beijing Time: July 27, 5:30 AM - 6:00 AM)Guests: Chris Pavlovski, Founder of Rumble Inc.; Russell Brand, Political Commentator on Stay Free with Russell Brand on RumbleTopic: BILLIONAIRE CAPITAL ALLOCATORS: HEDGE FUNDS, REAL ESTATE, & VENTURETime: 5:30 PM - 6:00 PM (Beijing Time: July 27, 6:30 AM - 7:00 AM)Host: Eric Weiss, Founder of Bitcoin Investment GroupGuests: Matthew Roszak, Founder of Tally Capital / Bloq; Bill Miller IV, Chairman and CIO of Miller Value PartnersFor the complete conference agenda, please check the original link.

ChainCatcher news, according to FOX Business, U.S. Senator Cynthia Lummis from Wyoming plans to announce legislation at the Nashville Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a strategic reserve asset.Lummis's plan is still uncertain and may be delayed. This move aims to establish Bitcoin as a mainstream financial asset and gain support from the President and Congress. Lummis's team hopes that Trump will support the bill and announce the news at the conference on Saturday.

ChainCatcher News: U.S. Senator Cynthia Lummis stated that Bitcoin and cryptocurrencies will be an important part of the future economy.

ChainCatcher News, U.S. Senator Cynthia Lummis stated on Twitter that she is building a coalition in Congress to support cryptocurrency. It is reported that Lummis has long been a supporter of cryptocurrency and is committed to promoting legislation favorable to the cryptocurrency industry.

ChainCatcher news, according to Cointelegraph, U.S. Senator Cynthia Lummis stated in an interview that she remains firmly supportive of Bitcoin as part of a diversified retirement plan and hopes to see the asset included in the U.S. 401(k) retirement plans.It is reported that Lummis is one of the few politicians in the U.S. who openly supports cryptocurrency, and she has been advocating for progressive cryptocurrency regulatory policies alongside Senator Kirsten Gillibrand. Meanwhile, Senators on Capitol Hill such as Elizabeth Warren, Tina Smith, and Richard Durbin have called for Fidelity Investments to retract its 401(k) retirement products related to BTC, taking advantage of the recent turmoil in the crypto market. (Cointelegraph)

ChainCatcher news, U.S. Senator Cynthia Lummis discussed the collapse of FTX and a donation she discovered from the failed company with Hot Wallet host Rosemarie Miller on a podcast. Lummis revealed that the donation was from FTX and not from SBF. Additionally, Lummis detailed Washington's response to FTX and the current state of crypto regulation.It is reported that Cynthia Lummis is one of the senators advocating for cryptocurrency regulation. She, along with Senator Kristen Gillibrand (D-NY), has crafted the most comprehensive cryptocurrency regulatory bill to date, which favors the U.S. Commodity Futures Trading Commission (CFTC) as the regulatory body and alleviates tax concerns for users purchasing goods with cryptocurrency. The bill needs to pass through congressional committees in 2023 to take effect. (Forbes)

According to ChainCatcher news and a report by Decrypt, the carbon trading market protocol KlimaDAO has engaged in multiple conversations with staff from U.S. Senators Sens. Cynthia Lummis and Kirstin Gillibrand's offices, aiming to clarify the scope of the crypto industry, outline how digital assets should be taxed, and how they should be regulated by different government agencies, including defining terms like DAO that lawmakers have yet to determine.It is reported that in June, Kirsten Gillibrand and Cynthia Lummis introduced a crypto regulation bill that favors the U.S. Commodity Futures Trading Commission (CFTC) as the regulatory body and alleviates tax concerns for users purchasing goods with cryptocurrencies. (decrypt)