A U.S. Senator has proposed a resolution to support the integration of cryptocurrency payments in Capitol gift shops. The lawmaker believes that accepting these digital assets will demonstrate the support of the government for the growing cryptocurrency industry and also make the shopping experience more accessible for visitors to Capitol Hill.
Senator Ted Cruz Advocates Crypto Payments
U.S. Senator Ted Cruz (R-TX) announced Thursday that he has reintroduced the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution. Cruz first introduced this resolution in November 2021. The senator from Texas said:
Cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values and creating new hedges against inflation, and presenting new opportunities. It is also increasingly being used as a secure form of payment for goods and services.
“This is precisely why we, here at the United States Capitol, should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill,” he added.
Sen. Cruz proposed a bill that mandates the Architect of the Capitol, Secretary of the Senate, and Chief Administrative Officer of the House of Representatives to push for accepting cryptocurrency as payment in Capitol gift shops. They must also contract vendors that accept crypto for payment in food service and vending machines within the Capitol building.
Cruz further said: “An added advantage of using cryptocurrency as a form of payment in the Capitol is that it would provide foreign tourists who visit our nation’s capital each year with a safe and secure payment option without the need to pay unnecessary and often costly currency exchange fees.
The lawmaker has long been a pro-bitcoin senator. In May last year, he said he is “incredibly bullish” on bitcoin. “I have a weekly buy that’s an automatic buy every week of bitcoin because I believe in dollar-cost averaging,” he noted at the time.
Sen. Cruz introduced a bill in April 2022 to prevent the Federal Reserve from launching a direct-to-consumer central bank digital currency (CBDC), citing concerns that it could serve as a tool for financial surveillance by the federal government, similar to the situation in China.
Johnson Philip is a passionate cryptocurrency enthusiast and writer for CoinSEM.com. He has been following the crypto industry for years, and has a deep understanding of the various technologies and trends driving the market. Johnson has written extensively on topics ranging from blockchain development to ICO analysis and is known for his ability to translate complex technical concepts into easy-to-understand language.