#Lummis Meets SEC Chair Nominee#

U.S. Senator Cynthia Lummis met with Paul Atkins, the nominee for Chair of the Securities and Exchange Commission (SEC), to discuss digital asset legislation and regulatory reform. Lummis hinted at potential changes to come, jokingly suggesting that the SEC should go on an "Atkins diet." The meeting sparked speculation about the SEC's future regulatory approach to digital assets. Lummis has been a vocal advocate for digital asset legislation, and on August 1, 2024, she formally introduced the "Bitcoin Strategic Reserve Act," which would direct the U.S. government to establish a reserve fund for Bitcoin. The bill proposes using existing U.S. Treasury funds to purchase Bitcoin, with the ultimate goal of accumulating 1 million Bitcoin, roughly 5% of the total supply. Lummis's meeting with Atkins, along with her proposed legislation, indicates that she will continue to push for regulatory reform in the digital asset space and hopes to see the SEC take a more proactive stance in the area.