- Sen. Ted Cruz (TX-R) has proposed a resolution that would allow vendors within the Capitol area to accept payments in cryptocurrencies such as Bitcoin.
- Sen. Cruz is an outspoken advocate for Bitcoin, seeing it as a potential boon both on a national and state level.
- The resolution, if passed, would provide primary exposure to Capitol politicians on using BTC as a daily payment method.
Sen. Ted Cruz’s Initiative
Sen. Ted Cruz (TX-R) has proposed a resolution that would request vendors within the Capitol area to work with payments providers that accept bitcoin. The proposal specifically mentions that restaurants, gift shops and vending machines within Capitol Buildings should work with persons accepting cryptocurrencies such as bitcoin, which would allow the lawmakers of the United States to purchase their on-the-go snacks with sound money as they please.
Sen. Cruz’s Support for Bitcoin
Sen. Cruz has been an outspoken advocate for bitcoin before, saying that “One of the reasons I’m bullish on Bitcoin is because it’s decentralized.” He also sees the benefits of bitcoin mining as a potential boon for Texas, a state which has been at the forefront of the industry since China’s bitcoin mining ban and subsequent hash rate exodus in 2021.
Potential Impact of Resolution
While the move for acceptance at vendors may be perceived as inconsequential, if it passes, it could serve as the first primary exposure for Capitol politicians to using BTC as a daily payment method. Bitcoin can be an abstract concept for those who have not seen its usage in a payments setting, so small resolutions like this can possibly shift perspectives for an on-the-fence politician.
Passing Process
The resolution will need to pass both the House and Senate in order to take effect. Once approved by both chambers of Congress, this bill will become law and will require all vendors located within or near Capitol buildings to accept cryptocurrency payments from members of Congress using secure providers such as Coinbase or Bitpay.