Wyoming's U.S. Rep. Harriet Hageman announced her candidacy for the U.S. Senate seat being vacated by Cynthia Lummis, citing her desire to serve Wyoming and oppose federal policies she views as harmful. She has strong support from President Trump and aims to bring her experience from the House to the Senate, focusing on energy, land rights, and conservative values. Her announcement has already influenced Wyoming's political landscape, with potential contenders reconsidering their plans.
Senator Cynthia Lummis, a key advocate for cryptocurrency legislation and leader of the Senate crypto subcommittee, announced her retirement at the end of her term in 2026, prompting concerns within the crypto industry about losing a fierce ally on Capitol Hill, especially as her seat in Wyoming is likely to be contested in a heavily Republican primary.
Senator Cynthia Lummis of Wyoming announced she will not seek re-election in 2024, citing exhaustion after her first term since 2020, and plans to focus on legislation and supporting Republican control in the Senate. She has been a key figure in digital currency and AI regulation, and her successor is expected to be Rep. Harriet Hageman, a fellow Republican.
Senator Cynthia Lummis claims that President-elect Donald Trump is forming a 'Bitcoin army' by appointing a pro-crypto cabinet, including figures like Elon Musk and Robert F. Kennedy. Lummis highlights Trump's commitment to cryptocurrency, suggesting his administration will support digital assets. This comes amid discussions about the US potentially creating a Bitcoin Treasury reserve, with former CFTC boss Chris Giancarlo endorsing the idea as a strategic move.
Senator Cynthia Lummis is advocating for self-custody of crypto assets, challenging centralized custody practices. She emphasizes property rights as fundamental to decentralization and censorship resistance. The SEC's recent approval of Bitcoin and Ethereum ETFs indicates a positive shift in US crypto regulation, potentially paving the way for self-custodial regulations.
Senators Cynthia Lummis and Kirsten Gillibrand have introduced a comprehensive stablecoin legislation bill in the US, aiming to establish clear rules for the issuance and regulation of payment stablecoins. The bill includes definitions and rules for firms issuing stablecoins, requiring them to conduct activities through subsidiaries and maintain one-to-one reserves for stablecoins. It also prohibits the issuance of algorithmic stablecoins and places a $10 billion cap on state regulators' supervision of non-depository trust companies in the stablecoin space. The senators are optimistic about the bill's momentum and hope to push it through before election season takes over.
