United States Republican Senator Cynthia Lummis of Wyoming held a fireside chat with the founder and CEO of the Chamber of Digital Commerce, Perianne Boring, during the Bitcoin 2023 event in Miami on May 19.
The topics of discussion were the importance of Bitcoin to U.S. national and energy security and the upcoming legislation surrounding cryptocurrency, blockchain and related technologies.
Lummis described regulating Bitcoin and related technologies as a national security issue. She opined that the U.S. government had been irresponsible with its debt and positioned Bitcoin as a decentralized safety net for citizens:
“I’m actually worried as we go into another debt ceiling debate that we will eventually increase the debt ceiling to the point where our interest payments will exceed how much money we spend on national defense. So it is a national security issue.”
The senator made clear that it was her belief that the current challenges surrounding the passing of Bitcoin-friendly bills had more to do with what she perceived as ignorance or a lack of education than concerns…