Pro-crypto Senator Cynthia Lummis Discloses up-to-$100K BTC Purchase 0 8

The member of the US Senate and crypto lawmaker is staunch supporter and vocal towards Bitcoin and blockchain technology. She is also the one who quite frequently supported Bitcoin and cryptocurrency in Congress.

Cynthia Lummis, the U.S Senator from Wyoming, told that back in the month of August she purchased the Bitcoin worth between $50,001 and $100,000.  She disclosed the details as per the requirement of the Stop Trading on Congressional Knowledge Act, or STOCK Act,

The STOCK act was passed under the Barack Obama regime. CNBC reported that Lummis’ purchase was disclosed after the 45-days reporting deadline was finished. The primary reason behind the delay was “a filing error.”

Cynthia Lummis completed this purchase two weeks after she and some other senators tried to be the pro-crypto amendment within the President’s infrastructure bill. This move was also supported by Senators Mark Warner and Kyrsten Sinema, the motivation behind this was to release the burden from the shoulders to crypto traders and investors, and also to make the tax reporting easy for the crypto miners and wallet providers.

However, Lummis’ amendment controversially failed, and the bill was approved on August 10, without the inclusion of crypto-pro amendments. However, the bill was criticized by many senators, one of them was Senator Pat Toomey, a Pennsylvanian-based Republican. He described this bill as “full of flaws and badly proposed,” with the primary focus on adding more tax burden on specific crypto companies.

The fact is that Cynthia’s crypto purchase is not surprising, neither against the law by all means. She openly supports crypto trading. However, previously when bitcoin prices crashed to below $30,000, Cynthia advised against the purchase of Bitcoin and advocated buying dip.

However, it is not clear whether she had purchased bitcoin at that time or not. However, in the month of June, Cynthia told fox news that she is planning to buy more bitcoins as soon as their price would further drop down.

Despite the regulatory pressure on the crypto market, there are multiple Senators who vocally supported the crypto and also own digital tokens. Moreover, these senators are making efforts to release the pressure from the crypto market and also against the unfair regulatory sanctions being imposed on the crypto traders.

Recently, a group of Senators has spoken against the U.S President’s decision of appointing Omarova as the head of regulatory authority to regulate the crypto market. These crypto-friendly senators not just doing their best to bring in crypto-friendly regulations. This is not it, the majority of them also own digital tokens. This is an encouraging sign for the crypto community of the U.S.

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Uzbekistani Citizens Warned Against the Use of Unauthorized Exchanges 0 9

The government of Uzbekistan has been quite proactive when it comes to the use of crypto exchanges. As most of you may know, there has been a fair bit of commotion in the crypto world and most of it exists because of the regulations being implemented by a large number of governments. While some people are not in the favor of these regulations, many people, including a large number of crypto experts believe that they will be quite handy.

This is because regulating crypto will ensure that people don’t have to worry about false transactions, scams, frauds, and a large number of other issues prevalent in the world of crypto. The government of Uzbekistan has been especially quite determined to eliminate crypto-related corruption in the country. One of the first steps that the country has taken is to make sure that people in the country steer clear from making transactions with unauthorized exchanges.

For those who don’t know, there are loads and loads of exchanges operating in Uzbekistan and other countries in the world. Sure, not all of them are unauthorized but you will be surprised to learn that a large number of them happen to not be authorized.  What makes things so complicated is the fact that knowing which exchange is legit and which one isn’t can be quite challenging. This is because most exchanges, if not all, look one in the same and it is difficult for people to tell them apart.

This is one of the main reasons why the government of Uzbekistan has stepped in and tried to take matters into its own hands. One of the main aims of this exchange is to make sure that people do not have to worry about checking which exchange they would choose to invest crypto in. Instead, the government has been helping people quite a bit by creating teams just for the purpose of checking these exchanges.

In addition to that, the Uzbekistani government has also issued a notice against unauthorized crypto exchanges, stating that using them could result in serious action. Upon checking some of the exchanges operating in Uzbekistan, it was learned that there were more than 5 of them that did not have their own offices in the country. Instead, research teams found out, after a thorough investigation that these unauthorized exchanges were operating from somewhere else.

This was enough to suggest that the government is indeed hard at work to steer clear from crypto corruption in the country. Because of this, governments of other countries have also become quite proactive in order to eliminate any sort of corruption to keep investors safe.

Bitcoin Faucets – Everything you Need to Know 0 14

If you are looking for ways to earn Bitcoin, you will come across Bitcoin mining as well as trading. But, these are certainly not the only options at your disposal. There is a simpler route you can take, which is known as a bitcoin faucet. But, what exactly is a bitcoin faucet and how does it work? Let’s find out:

What are Bitcoin Faucets?

A bitcoin faucet refers to a mobile app or website that gives users small amounts of bitcoin or any other cryptocurrencies in return for completing simple tasks. It is possible for people to watch product videos, play games, complete captchas, answer surveys, view ads, click links, and do other similar tasks. This is known as a faucet because the rewards you receive are on the small side, not very different from the tiny drops of water that usually drip from a leaky faucet.

Contrary to popular belief, you should note that Bitcoin faucets cannot be considered get-rich-quick schemes. It may sound like a piece of cake to use a free bitcoin faucet to make money, earning a solid amount can take a tad longer, depending on which faucet you use. In most cases, the rewards you earn are directly sent to an online wallet offered by the website. Bear in mind that the difficulty of the task determines the quantity of the rewards; the easier it is, the less you earn.

Likewise, some faucets also require users to have a minimum payout, which means you have accumulated a certain amount of rewards before you can make a withdrawal. This could take a couple of hours, a day, a week or even months. This all depends on the website’s rates.

History of Bitcoin Faucets

Bitcoin faucets have existed for almost a decade. These crypto faucets were developed by Gavin Andresen, a senior Bitcoin developer, a few years after Satoshi Nakamoto launched Bitcoin. The purpose was to create awareness about this new concept of money. A reward of five bitcoins was issued by early bitcoin faucets, which is a whopping $243,000 today!

Getting hands-on bitcoin was tough in the early days because there weren’t many platforms or exchanges where you could buy it. Therefore, in order to pique’s people’s curiosity without pushing them into buying bitcoin and other cryptocurrencies, the concept of faucets was used for handing small amounts of it to people.

Today, many people have created their own faucets to make extra money. They often deposit some BTC in their crypto wallet that’s linked to their faucet app or website. It is possible for faucet owners to make some passive income via the ads, as long as they make more than what they are dispensing in the form of rewards.

How do Bitcoin Faucets work?

As mentioned earlier, bitcoin faucets reward people with small amounts of BTCs upon completing tasks. The rewards are given out in the form of satoshis, which is the smallest unit of bitcoin and is named after its mysterious founder. 1 BTC is equivalent of 100 million satoshis and the amount you get will depend on the task you complete and the reward system of the faucet provider.

Some of these faucets directly send the payment to your Bitcoin wallet or through a third-party micropayment wallet. These micro wallets are similar to traditional desktop or online wallets and can only hold a small amount of cryptocurrency.

Things to Consider before Choosing a Bitcoin Faucet

Now that you understand the concept of Bitcoin faucet, it is natural to want to use one. However, before you choose one of the many available, there are certain things you need to consider. First, you should look at the timer, as some of them have a loading or refresh time, which can be between 15 minutes and a few hours. You should also check the claim amount, which indicates how often you can earn and how much. This also depends on the complexity or simplicity of the tasks you complete.

As mentioned before, some crypto faucets also require you to accumulate a certain amount of satoshis before you can withdraw, so you should look into it. Likewise, also look at the referral fee i.e. how much you can make by referring the faucet to others.

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