According to TechFlow, U.S. Senators Cynthia Lummis and Tim Scott spoke at the Bitcoin 2024 conference in Nashville on July 26. Contrary to previous rumors, Lummis did not propose legislation to list Bitcoin as a U.S. strategic reserve asset. Lummis criticized the SEC's approach to regulating the industry through enforcement rather than regulation, and emphasized the Republican Party's revised platform to protect digital asset ownership and custody.
Scott proposed the idea of creating "opportunity zones" using Bitcoin. The two senators also discussed the potential contribution of Bitcoin mining to the U.S. energy infrastructure.
Previously, industry insiders such as Mark Cuban and Bryan Courchesne were optimistic about the possibility of Bitcoin becoming a strategic reserve asset, while Ari Paul of BlockTower Capital held the opposite view.
