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3 crypto news stories from the US political playground

Here are the Top 3 cryptocurrency-related news stories that came out of the United States’ political sphere this past week.

Pro-Bitcoin Cynthia Lummis expected to win Senate race

Republican Cynthia Lummis, a former United States representative, has defeated her opponents in the Wyoming primary elections and will now be up against Democrat Merav Ben-David — whom she is projected to defeat, if the state’s historical trend of voting right continues.

Lummis is notably pro-Bitcoin and once told Coindesk that she views it as a solid store of value. She also is a coiner, herself, having bought her first bitcoin all the way back in 2013.

Should Lummis win in the general election later this year, she will — for all intents and purposes — become one of the most (if not the most) crypto-friendly legislator in the United States Congress.

Rep. Tom Emmer will accept crypto donations

In other politics-related news, Minnesota’s Rep. Tom Emmer will begin accepting cryptocurrency donations for his political campaign after announcing the fact that a town hall event a few days ago. The donations will be processed by crypto-processing company BitPay, meaning that the donations can be transacted in eight cryptocurrencies — most notably, Bitcoin (BTC), Bitcoin Cash (BCH), and USDC.

Notable politicians to accept cryptocurrencies in the past include U.S. Sen. Rand Paul (R-Ky), Democrat Rep. Eric Salwell, and former presidential candidate Andrew Yang.

us congress politics

Congress isn’t anywhere near ready to take on DeFi

Finally, according to a report from The Block, the U.S. Congress is still far away from regulating decentralized finance — commonly referred to as DeFi. Rep. Darren Soto told the publication:

“Congress hasn’t engaged much on this topic yet […] [r]ight now, we’re still at a state where we’re literally trying to define the cryptocurrency definitions as well as jurisdictions overall […] So we’re not quite into the point of look at decentralized finance. And for the moment, that’s a good thing. These nascent markets need time to grow.”

Image source: Pixabay

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