• US Senator Ted Cruz (R-TX) has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments.
• The Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution would require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency as a form of payment.
• The resolution aims to increase accessibility and signal support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.
U.S. Senator Ted Cruz (R-TX) has recently proposed a resolution that encourages Capitol gift shops to accept cryptocurrency payments. This resolution, known as the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution, was introduced in order to increase accessibility and signal support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.
In presenting the resolution, Senator Cruz highlighted the many benefits of utilizing cryptocurrency, such as generating new jobs, encouraging entrepreneurs to invent new values, creating new hedges against inflation, and presenting new opportunities. He noted that cryptocurrency is increasingly being used as a secure form of payment for goods and services, and that the Capitol should not be left behind in this regard.
The proposal seeks to require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency as a form of payment. It also seeks to enter into contracts with vendors who accept cryptocurrency as payment for food service and in vending machines within the Capitol complex.
In addition, the resolution aims to provide foreign tourists who visit the nation’s capital each year with a safe and secure payment option without the need to pay unnecessary and often expensive exchange rates. It also aims to reduce the costs associated with providing payment options for Capitol gift shops.
Overall, the resolution is a promising step forward in ensuring that cryptocurrency is being accepted as a legitimate form of payment in the United States. It is also a sign of progress in the cryptosphere, as more and more businesses are beginning to recognize the potential of digital assets. By introducing the resolution, Senator Cruz is sending a message to the American public that the U.S. Capitol is open to the use of cryptocurrency and is actively encouraging its use.