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Tuesday, March 21, 2023

US Senator Ted Cruz Pushes Cryptocurrency in Congress … Using Snacks

Texan Republican Senator Ted Cruz is pushing the United States Congress to embrace cryptocurrencies in its halls, using an incentive both sides can agree on: food.

Cruz filed a consent motion on January 25 that would only allow vending machines and food service contractors to accept cryptocurrency as a payment option inside the US Capitol.

If approved, the Architect of the Capitol, the Secretary of the Senate and the Clerk of the House of Representatives would have to find food and vending companies that accept cryptocurrencies.

As of press time, the text of the resolution was not publicly available on the Congressional website. The potential cost of implementing the measure, or whether the resolution would force contractors to accept payments in certain cryptocurrencies, is unknown.

US Capital Cafe could be one of the vendors required to accept cryptocurrency payments. Image: Google

Cointelegraph reached out to Cruz’s office for comment but did not immediately hear back.

Cruz has long been an open defender of cryptocurrencies, particularly bitcoin (BTC) because of their decentralization. According to a financial statement, this time last year, the senator bought between $15,000 and $50,000 worth of BTC.

He is one of only eight known crypto investors in Congress, according to the crowdsourced data project “Bitcoin Politicians”.

The list also includes Wyoming Senator Cynthia Lummis, the man behind the pro-cryptocurrency bill, and Pennsylvania Senator Pat Toomey, who recently introduced a stablecoin bill to create a regulatory framework for payments.

Senator Cruz has indicated his interest in making his home state of Texas an oasis for bitcoin and other cryptocurrencies, stating that cryptocurrency mining could be used to monetize energy from oil and gas extraction and Activity can be used as an alternative method of storage. energy.

The resolution introduced by Cruz would require the concurrence of both the Senate and the House of Representatives before it could be adopted.

the explanation: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be construed as financial advice or investment recommendation. All investments and commercial dealings involve risk and it is the responsibility of each individual to conduct appropriate research before making any investment decision.

Investing in crypto assets is not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed at or accessible to investors in Spain.

World Nation News Desk
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