Crypto Payments in Congress: What’s the Buzz?
In a move that has sparked conversation (and maybe a few raised eyebrows), Senator Ted Cruz of Texas has introduced a resolution aimed at revolutionizing how we think about transactions in Congress. His resolution, humorously titled Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions, or simply ACCEPT, proposes that all gift shops, restaurants, and vending machines within the Capitol Complex start accepting cryptocurrency as payment. Yes, you heard that right – crypto at the Capitol!
What The Resolution Entails
This resolution isn’t just a headline; it packs a punch. It prevents the Architect of the Capitol from engaging in contracts that would block the use of cryptocurrency, as long as these transactions are “cost-effective and value-centered for patrons.” So, in layman’s terms, if it’s not going to bleed wallets dry, let’s get it on the digital currency train!
Cruz’s Vision for Cryptocurrency
In a recent chat with Breitbart News, Cruz made the case for embracing cryptocurrency, stating, “As consumers better understand and embrace cryptocurrency, merchants are increasingly accepting crypto as a payment method.” Who knew the Senate floor could double as a cryptocurrency marketing seminar? Cruz is keen on ensuring Congress doesn’t fall behind in technological advancements, which seems ironic given the average congressional session’s pace.
Looking Back at Cruz’s Crypto Advocacy
In the past few months, Cruz has made waves in the crypto sector. Whether suggesting that wasted natural gas can be transformed into bitcoin mining opportunities (anyone up for some eco-friendly mining?) or opposing a Biden nominee over regulatory concerns regarding crypto, he’s certainly positioned himself as a vocal advocate. Just this past August, he attempted to add an amendment to an infrastructure bill that would have prevented the mandatory reporting of crypto transactions over $10,000. It’s safe to say Cruz is not just dipping his toes into the murky waters of cryptocurrency; he’s diving right in!
The Future of Cryptocurrency in Congress
A lot is at stake regarding this resolution and its potential adoption. With more and more businesses starting to accept cryptocurrency, is it time for Congress to lead by example? One can only imagine a future where constituents can buy a congressman’s mug using Bitcoin, or perhaps pay for their iced coffee in Ethereum. Let’s be honest: it sounds like a win for both tech enthusiasts and anyone looking to try their luck at a political souvenir!
