American senator aims to provide a right to all Americans to hold Bitcoin in self-custody
Cynthia Lummis said that she will protect Americans’ right to hold Bitcoin under self-custody Bitcoin wallets.
Cynthia Lummis is a Bitcoin & crypto-friendly US Senator. She is known for her strong Bitcoin advocacy. In the past, during bad circumstances, Cynthia played a vital role in injecting confidence among the crypto investors. She also contributed to the reintroduction of the Financial Innovation Act to create a comprehensive regulatory framework for crypto assets, in collaboration with Kirsten Gillibrand (D-NY), a member of the Senate Agriculture Committee.
On 25 May 2024, Cynthia Lummis said that she will fight for the American’s right to hold Bitcoin in self custody Bitcoin wallets.
Before this statement, she said “Not your key, not your coins”, a well known statement popular among Bitcoin enthusiasts which tells people should hold Bitcoin under self custody.
The Bitcoin-friendly Senator also said that Property rights are fundamental to decentralisation and censorship resistance & here Bitcoin is the digital property where people need full privacy of fundamental rights.
It is worth it to note that Cynthia’s statement came amid the time when hurdles among the self custody Bitcoin wallets & payment services providers is high.
In the past couple of months, the majority of the top Bitcoin payment & self custody wallet service providers decided to shut down their business services from the US market citing increasing regulatory pressure.
Bitcoin price action
The current trade price of Bitcoin (BTC) is $69,064 & this trade price is 2.79% higher over the last 7 days.
According to experts, the trade price of Bitcoin may see a big increase because of the increasing political support for the Bitcoin & Crypto sector.
Read also: Former American President Trump says the US should be Crypto leader, not at 2nd place
