Texas Lawmaker Senator Ted Cruz Pushes for Crypto Payments at Capitol Hill

UTC by Ibukun Ogundare · 3 min read
Texas Lawmaker Senator Ted Cruz Pushes for Crypto Payments at Capitol Hill
Photo: Gage Skidmore / Flickr

Before his latest move to push for crypto payments at Capitol Hill, Cruz has always supported crypto assets.

US Senator Ted Cruz is advocating for accepting crypto payments at Capitol Hill. His proposal, submitted on the 25th of January, requires Capitol Hill vendors to accept crypto payments. The Texas lawmaker introduced a resolution to prioritize crypto for payments at the capitol.

Cruz Wants Capitol Hill Vendors to Accept Crypto

The concurrent resolution introduced by the Senator may be cited as the “Adopting Cryptocurrency in Congress as an Exchange of Payment for Transaction Resolution” or the “ACCEPT Resolution.” Upon its approval, the new directive would require “the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to contract with food service contractors and vending machine contractors for the Capitol Complex that accept cryptocurrency, and for other purposes.”

Before his latest move to push for crypto payments at Capitol Hill, Cruz has always supported crypto assets. He previously pushed for crypto adoption for payments within the Capitol building. The Senator submitted the detailed document on the 1st of November.

While the latest resolution does not require presidential approval, it needs a green light from the House and Senate. This is another move by the Republicans to focus on digital assets and related rules. Earlier this month, a Subcommittee on Digital Assets, Financial Technology, and Inclusion was created as a subsection of the House Financial Services Committee. One of the primary responsibilities of the subcommittee is “providing clear rules of the road among federal regulators for the digital asset ecosystem.”

Congressman Patrick McHenry (RNC) was appointed as the subcommittee’s chairman. He stated that the team would begin to develop a clear regulatory framework for the digital asset space.

Furthermore, Cruz has also been vocal about expanding the crypto-mining industry in Texas, his home state. His vision is to make the state an “oasis on planet Earth for bitcoin and crypto” The Lone Star State has grown to become a center for mining cryptocurrencies such as Bitcoin. The Senator wrote about his visit to a mining facility last summer, saying:

“Today I had the pleasure of touring the largest Bitcoin mining facility in North America in Rockdale! I am proud to lead the fight for the crypto industry in the state. Texas will continue to be the center for crypto innovation.”

In addition to pushing for crypto payments at Capitol Hill, a filing revealed that Cruz had purchased between $15,001 and $50,000 worth of Bitcoin.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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