October 5, 2022

Why Ted Cruz Wants U.S. Congress Merchants To Accept Bitcoin

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Per a report by Breitbart News, U.S. Senator Ted Cruz (R-TX) has actually introduced a resolution that might bring Bitcoin ideal to Congress. The federal government official proposed legislation on November 1st for the organization to increase its awareness and involvement with digital properties.

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According to the report, Cruz proposed an Exchange of Payment for Transactions resolution. If authorized, 3 crucial departments within the U.S. Congress would need to embrace Bitcoin (BTC) as a cash.

The offices of the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of your house of Representatives would need to abide by the legislation. This means that they would need to go into deals with food services and vending devices companies efficient in taking Bitcoin as payment.

In addition, the congressional gift shops would require to establish a Bitcoin and crypto-friendly check out to be efficient in abiding by the legislation proposed by Cruz. The Senator has actually turned up as a Bitcoin supporter, especially in 2021.

While a few of his associates tried to limit the crypto market via the infrastructure bill, Cruz openly exposed the proposed legislation as an “attack on crypto”. After the costs was passed on the Senate floor, Cruz commented:

What the Senate stated tonight: Let’s tax the hell out of something we understand absolutely nothing about, so we can pass a giant expense we have not read, and invest the American people’s cash on things we can’t afford. It’s reckless & & hazardous.

Hence, many within the space seemed like Cruz voiced the basic belief. Since that moment, the Senator has actually been more public on his pro-Bitcoin position calling the cryptocurrency a potential service to help Texas improve its electrical grid.

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Whatever Is Bigger In Texas Including Bitcoin

As Bitcoinist reported, Texas is among the U.S. states with growing Bitcoin adoption. Together with Florida, it could possibly end up being a BTC Hub in the country with their friendly legislation, particularly towards the BTC mining sector.

Expanding on his proposal, Senator Cruz told to Breibart News that he wants to make the U.S. Congress a leading institution in terms of Bitcoin and crypto adoption. The federal government official stated:

As customers much better understand and welcome cryptocurrency, merchants are increasingly accepting crypto as a payment method. Congress is generally slow to adopt new technology. My bill would position Congress to lead on this issue by having congressional snack bars, vending devices, and present shops accept crypto payments.

As of press time, Bitcoin trades at $63,324 with a 3.94% earnings in the daily chart.

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BTC on a rally in the day-to-day chart. Source: BTCUSD Tradingview