US Senator Proposes Congress to Adopt Cryptocurrency for Payments – Regulation

US Senator Ted Cruz has introduced a resolution that would enable Congress to lead the cryptocurrency space by allowing congressional cafeterias, vending machines and gift shops to accept crypto payments. “Congress tends to be slow to adopt new technologies,” he said.

Senator Pushes for Crypto Adoption in Congress

U.S. Senator Ted Cruz introduced a resolution in the Senate on Monday titled “Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution,” also referred to as the “ACCEPT Resolution.”

The resolution proposes that cryptocurrency be accepted at “restaurants, vending machines, and gift shops in the Capitol Complex.” According to the text of the resolution:

The Architect of the Capitol, the Secretary of the Senate, and the Chief Administrator of the House of Representatives shall each...procure and enter into contracts with persons who accept digital assets as payment for the provision of food service and vending machines in such Capitol buildings for goods.

They should also “encourage gift shops in such Capitol buildings to accept digital assets as payment for goods,” the resolution says.

Cruz told Breitbart News Monday that Congress can lead on cryptocurrencies by adopting them as a means of payment and increasing crypto awareness in Congress.

"As consumers better understand and embrace cryptocurrencies, merchants are increasingly accepting crypto as a payment method. Congress is typically slow to adopt new technologies," the Texas senator told the publication, adding:

My bill would enable Congress to lead on this issue by allowing convention cafeterias, vending machines, and gift shops to accept crypto payments.

What do you think about Senator Cruz’s cryptocurrency adoption proposal? Let us know in the comments section below.

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