Senator Cynthia Lummis, who supports cryptocurrency, discloses up to $100,000 in BTC purchases

Republican Senator Cynthia Lummis from Wyoming revealed that she bought Bitcoin (Bitcoin) According to documents submitted on Thursday, the value on August 16 was between US$50,001 and US$100,000.

The disclosure is part of the Congressional Knowledge Stop Trading Act or the Stocks Act, which prohibits the use of non-public information for profit. The stocks bill was signed into law under the leadership of former President Barack Obama in April 2012 and aims to combat insider trading.

As CNBC Report, Lummis’ purchase was disclosed outside the 45-day reporting window required by law. A spokesperson said that the delay in the report was due to a “submission error.”

Lummis made the purchase less than two weeks after she and other senators tried to insert a pro-encryption amendment into President Joe Biden’s infrastructure bill.A bipartisan effort supported by Senators Mark Warner and Kyrsten Sinema tried Reduce the burden of cryptocurrency tax reporting For miners and wallet providers.

Controversially, Lummis’ amendment Failed to enter the infrastructure bill The bill was approved by the Senate on August 10. Senator Pat Toomey, Republican of Pennsylvania, described the bill as “seriously flawed” because it imposes “infeasible” tax reporting authority on certain crypto companies.

The bill is called the “Infrastructure Investment and Employment Act” and has not been passed vote According to the latest news on October 1, the House of Representatives will make a decision on this due to the postponement of the proceedings.

related: The infrastructure bill is pending. What does its promulgation mean for encryption?

Given Lummis’ firm support for cryptocurrency, it is not surprising that she buys Bitcoin.As Cointelegraph reported, the Wyoming senator had previously stated Interest in buying on dips After the price of Bitcoin plummeted below $30,000. Although it was not entirely clear at the time whether she owned Bitcoin, the senator told Fox News in June: “I’m really excited because once Bitcoin drops a little bit, I will buy more.”