Senator Cruz, a Senate representative from Texas, wants the state to become a “Bitcoin oasis.” Given the recent crypto regulations, he wants Texas to open its doors to crypto development. 

Senator Cruz Stands With Bitcoin

At an event dubbed “Bitcoin and the American Experiment,” he made some remarks. Cruz expressed his full support for the flagship currency, Bitcoin. The Heritage Foundation set up the event. Its mission is to promote public policies and foster individual freedom.

The Block noted that Cruz commented on the expansion of cryptocurrency mining. Texas has been in the news lately for crypto mining. Several mining companies have pitched their tent in the state. Others have started testing the use of coal as an alternative source of power.

He noted that;

“I support Bitcoin and want others to follow. Texas will become a refuge for crypto lovers and supporters.”

The Democrats Continue To Fight The Crypto Community

The crypto advocate noted that Democratic members of the Senate hated crypto. They have tried countless times to bring it under their control. He directed his comment at the Rep. Of Massachusetts, Sen. Elizabeth Warren. 

He added that;

“The Democrats like to have control over everything. They despise anything that cannot be controlled. As a result, they have been against Bitcoin and crypto in general. Democrats such as Elizabeth Warren cannot sleep well because of crypto. She wants to gain control over every penny in any bank account.”

Despite the clamor for a national CBDC, the senator has termed them “horrific.” He was not in support of the United States issuing a digital Dollar. Cruz noted that it was a dangerous idea and should not happen. 

Meanwhile, the chairman of the Federal Reserve, Jerome Powell, thinks otherwise. Together with Sen. Sherrod Brown, they believe there is potential in developing a CDBC. 

The present division in the US parliament is slowing down the development of a CBDC. While other nations have started running pilot tests, the US is yet to issue a digital dollar. 

Meanwhile, the Texas Senator remains bullish about crypto, especially Bitcoin. According to recent financial disclosures, he bought more Bitcoin recently. 

Reports state that he bought BTC worth over $50,000. Despite the fall in the crypto market, major crypto supporters continue to amass cryptocurrencies. 

The senator has been in support of the crypto community from the start. Hopefully, he will continue to fight for crypto adoption and development. 

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