From Coffee to Crypto US Lawmakers Push to Use Bitcoin for Daily Life
Senator Cynthia Lummis and ex-Congressman Mike Rogers aim to simplify the use of Bitcoin for ordinary transactions, such as purchasing coffee or groceries. At present, even small-scale Bitcoin deals may call for tax reporting, which many find too complex and deters users from making Bitcoin an integral part of their daily lives.
They recently assisted in passing the GENIUS Act, a bill that is aimed at making stablecoins have well-defined rules. The act wants to safeguard consumers without inhibiting innovation. It makes sure that firms that issue the digital coins abide by good rules and have sufficient financial buffers.
While the GENIUS Act is a big achievement, Lummis and Rogers say it’s just the beginning. They believe Congress must…
