June 1, 2023


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US Senator Ted Cruz pushes for crypto in Congress … using snacks

2 min read

Texas Republican Senator Ted Cruz is pushing the US Congress to undertake cryptocurrency inside its halls utilizing an incentive each side might agree on — meals.

Cruz launched a concurrent resolution dated Jan. 25 that will solely permit merchandising machine and meals service contractors that settle for crypto as a payment choice throughout the U.S. Capitol.

If adopted, the Architect of the Capitol, the Secretary of the Senate and the Chief Administrative Officer of the Home of Representatives can be required to seek out the crypto-accepting meals and merchandising corporations.

On the time of writing, the textual content of the decision was not publicly accessible on the Congress web site. It’s unknown the potential price of implementing the measure, or if the decision would require contractors to take cost in sure cryptocurrencies.

The U.S. Capital Cafe might be one of many purveyors required to take crypto funds. Supply: Google

Cointelegraph contacted Cruz’s workplace for remark however didn’t instantly obtain a response.

Cruz has lengthy been a vocal advocate for cryptocurrencies, particularly lauding Bitcoin (BTC) for its decentralization. At roughly this time final yr, the senator purchased between $15,000 and $50,000 price of BTC, in response to a financial disclosure.

Associated: Crypto industry leaders ‘scared of a strong SEC’ — Senator Warren

He’s one among solely eight identified crypto investors in Congress, in response to the “Bitcoin Politicians” crowdsourced information challenge.

The listing additionally contains Cynthia Lummis, the Wyoming senator behind a pro-crypto piece of legislation and Pat Toomey, a Pennsylvanian senator who recently introduced a stablecoin bill aiming to create a regulatory framework for funds.

Senator Cruz additionally has signaled his curiosity to make his house state of Texas an oasis for Bitcoin and different cryptocurrencies, saying crypto mining might be used to monetize the power from oil and gasoline extraction and the exercise could also be used as an alternate manner of storing power.

The decision put ahead by Cruz will should be agreed to in each the Senate and the Home earlier than it may be adopted.