Senator Ted Cruz wants vendors to accept Bitcoin on Capitol Hill

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Sen. Ted Cruz introduced a measure in the Senate on Wednesday advocating crypto payments in areas of the Capitol, a sign that Republicans continue to focus on rules related to digital assets.

The new directive would apply to officials tasked with overseeing day-to-day operations within the House of Representatives and Senate, encouraging them to work with people who will accept digital assets as payment for goods and food services.

The proposal refers to areas of the Capitol where digital payments could work, such as in gift shops or vending machines. Last November, Cruz pushed for the adoption of cryptocurrencies such as Bitcoin as a method of payment in Capitol buildings through a similarly worded document.

The changes were introduced in a so-called concurrent resolution, typically used to make or change rules that apply to both houses, according to the Senate website. Although it doesn’t need the president’s signature to take effect, the measure would still need to be approved by the House and Senate.

Ted Cruz’s move on Wednesday follows the creation of the digital assets, fintech and inclusion subcommittee earlier this month. As a subsection of the House Financial Services Committee, one of its primary goals is to establish clear rules of conduct among federal regulators.

When Congressman Patrick McHenry (R-NC) was named chairman of the House Financial Services Committee last month, he said developing a comprehensive regulatory framework for the digital asset ecosystem would be central to his concerns.

Over time, Texas has become a hotbed of activity for mining cryptocurrencies like Bitcoin, an industry that Cruz has widely embraced. After visiting a mining facility last summer, the senator said, I am proud to lead the fight for the crypto industry in the Senate.

Today I had the pleasure of visiting the largest #Bitcoin mining facility in North America in Rockdale!

I am proud to lead the fight for the crypto industry in the Senate.

Texas will continue to be the center of crypto innovation! pic.twitter.com/28BYfEhJzQ

Senator Ted Cruz (@SenTedCruz) August 30, 2022

Its sway history for crypto devotees dates back well over a year. In August 2021, the Texan voiced support for amending a $1 trillion infrastructure bill passed at the time to exempt non-custodial crypto businesses like Bitcoin miners from a security requirement. tax declaration included.

The effort ultimately failed, but Cruz then introduced legislation to entirely repeal the cryptocurrency provisions included in the Infrastructure Investment and Employment Act.

Cruz is also one of many elected officials, including Senator Cynthia Lummis (R-WY), who have provided insight into Bitcoin purchases through financial disclosures. A file indicates that Cruz bought between $15,001 and $50,000 worth of Bitcoin through the River Financial exchange almost exactly one year ago.

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