Who?
Sen. Cynthia Lummis (R-WY) — Member, Senate Banking, Housing & Urban Affairs and Commerce Committees
LISTEN: Laslo & Lummis
Ask a Pol asks:
Since the election, it feels like just a night and day difference when it comes to digital currencies at the US Capitol…
Key Lummis:
“Isn't it? Isn't it bizarre?” Lummis exclusively told Ask a Pol. “It's the confluence of the maturity of cryptocurrencies — and Bitcoin, specifically — with the Trump election.”
Yeah?
“So I think it's those two things — that happened almost simultaneously — that has caused this industry to embed,” Lummis said. “From now on they'll be significant players in the national economy, in politics and in acceptance by the American people.”
Caught our ear, per spending on the 2024 election:
“Through the Financial Innovation Caucus that I had with [fmr. Arizona Sen.] Kyrsten Sinema and through inviting speakers in and visiting people's offices and talking ad nauseam about digital assets, I don't think anything that I ever did has cracked through as much as money in a political environment,” Lummis told us. “Which is sad, but it's true. So I'm glad they're playing. They're playing in a significant way.”
ICYMI — fmr. Sen. Sherrod Brown disagrees
Below find a rough transcript of Ask a Pol’s exclusive interview with Sen. Cynthia Lummis (R-WY), slightly edited for clarity.
TRANSCRIPT: Sen. Cynthia Lummis
SCENE: Ask a Pol’s Matt Laslo stood waiting in the basement of the Capitol for five or so minutes as Sen. Lummis finished a conversation with another congressional reporter. When she was finished, they hopped the elevator up to the Senate floor so she could vote.
Matt Laslo: “I wanted to ask you about crypto.”
Cynthia Lummis: “Oh.”
ML: “It feels like just a night and day difference.”
CL: “Isn't it? Isn't it bizarre?”
ML: “Yeah.”
CL: “I think that part of it is, it's the confluence of the maturity of cryptocurrencies —and Bitcoin, specifically — with the Trump election.”
ML: “Yeah?”
CL: “So I think it's those two things — that happened almost simultaneously — that has caused this industry to embed. From now on they'll be significant players in the national economy, in politics and in acceptance by the American people.”
ML: “You probably didn't catch it, but did you hear about the 60 Minutes segment on crypto this past weekend?”
CL: “No.”
ML: “It was interesting, because it kind of looked at their role in the election and how, I guess, 85% of the people they backed won. But I kinda doubted that metric, it didn't seem like a fair metric, because they didn't put money into every race.”
CL: “Did they talk about Fairshake?”
ML: “Maybe, maybe.”
CL: “I need to go back and look at that, because there was a very big, very big super PAC.”
ML: “Yeah.”
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CL: “Like somewhere between $160+ million.“
ML: “I think that was the focus — it was their people.”
CL: “They were big players in this election for the first time ever.”
ML: “Yeah and do you think that awoke many members?”
CL: “Yeah. I think that that surprised a lot of people, how mature this industry is, and they're so tired of spending money on lawyers to fight SEC regulatory actions that are unclear, that they thought ‘nuts to the SEC and all these lawyers we’re paying, let's influence the policy makers. Let's play in this area.’ And they did and they played in a big way, and it was significant for both Democrats and Republicans.”
ML: “Yeah. And that was the interesting thing. And then I guess also, kinda at the end of the piece, someone gave another $25 million to that, so I guess going into the midterms in two years, yeah, they've already got like $100 million in the bank.”
CL: “Oh yeah, they're already locked and loaded.”
ML: “That means your colleagues are taking notice of that?”
What should we ask lawmakers this week? Let us know!
CL: “And they should. You know, I have been, through the Financial Innovation Caucus that I had with Kyrsten Sinema and through inviting speakers in and visiting people's offices and talking ad nauseam about digital assets, I don't think anything that I ever did has cracked through as much as money in a political environment.”
ML: “Yeah?”
CL: “Which is sad, but it's true. So I'm glad they're playing. They're playing in a significant way.”
ML: “Yeah?”
CL: “Yeah.”
ML: “I’ll be watchin. Preciate ya. Thank you, ma'am.”
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