U.S. Republican Senator Ted Cruz of Texas submitted a resolution on the Senate floor Monday that would require the acceptance of cryptocurrency payments at all gift shops, restaurants and vending machines located within the Capitol complex. The resolution, titled Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions, or ACCEPT, also prohibits the Architect of the Capitol — a presidential appointee who oversees the administration of the Capitol Complex — from entering into contracts which preclude the use of cryptocurrency as a form of payment provided that they “are cost-effective and value-centered for patrons.”
Cruz said in an interview with Breitbart news “As consumers better understand and embrace cryptocurrency, merchants are increasingly accepting crypto as a payment method. Congress is typically slow to adopt new technology. My bill would position Congress to lead on this issue.”
In October, Cruz made headlines for saying that wasted natural gas could be used to mine bitcoin and shore up the Texas electrical grid at the Texas Blockchain summit. This September, Cruz opposed Biden nominee Saule Omarova for Comptroller of the Currency partially on the grounds that she would over regulate crypto. This past August, Cruz introduced an amendment to an infrastructure bill that would have nixed a provision requiring the reporting of crypto transactions over $10,000.
Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.