Senator Lummis says Bitcoin is a commodity and will become a currency soon - BitcoinEthereumNews.com
The U.S. Senator from Wyoming, Cynthia Lummis, recently championed Bitcoin as a future currency in an interview. The साक्षात्कार started with the question, “Is Bitcoin a currency or commodity?” Senator Lummis quickly and confidently responded: “I own [Bitcoin], a commodity. I believe it will be currency someday, but at this point of its existence, it‘s a commodity just like cattle, wheat, and gold. At some point, it’s going to become a means of payment…and its going to happen really fast.” To explain her confidence, Lummis referred to the launch of the Bitcoin payment protocol, लाइटनिंग नेटवर्क. She noted that Bitcoin came out of a whitepaper that didnt include means of payment. Lightning Network filled the gap by providing a payment method for Bitcoin which should lead to further inovation in the payment space. Is it a currency if its denominated in U.S. dollars? Following up on Lummis arguments, NBC news journalist Chuck Todd said that Bitcoin and other cryptocurrencies are denominated in U.S. dollars, and therefore they would not be able to behave as currencies. In response, Lummis claimed that Chris Giancarlo intentionally made this denomination during his tenure as the Chairman of the अमेरिकी कमोडिटी फ्यूचर्स ट्रेडिंग कमीशन (CFTC) to protect the US dollars