Do Senator Lummis And Toomey Bitcoin Holdings Pose Ethical Concerns? Let’s Argue

It’s completely legal for U.S Senators Cynthia Lummis and Pat Toomey to own Bitcoin or Bitcoin-related investments. They just have to disclose it. Does this pose an ethical dilemma? Senators are on the frontlines of policymaking, and the rules around cryptocurrencies are still being written. On the other hand, it’s illogical to think that Senators can’t handle money or have investments. Is there a conflict of interest here? Let’s argue. As a basis, we’ll use and analyze this article, based on the “Wall Street Journal review of public financial disclosures.” How Much Bitcoin Do Lummis And Toomey Have? Senator Cynthia Lummis is on the frontlines of the battle for better legislation around Bitcoin and cryptocurrencies in general. However, we’re centering our discussion around her and Pat Toomey because they’re literally the only Senators that disclosed Bitcoin-related investments. An incredible stat that shows just how early we are. But enough about that, let’s go to the numbers. Reportedly, Cynthia Lummis owns 5 whole BTC. Or, as the WSJ puts it: “Ms. Lummis’s roughly $250,000 of bitcoin makes her the most heavily invested U.S. lawmaker in the digital asset.” For his part, Pat Toomey went for Bitcoin and Ethereum exposure via Grayscale: “In mid-June, Mr. Toomey bought $2,000 to $30,000 of stock in Grayscale Bitcoin Trust and Grayscale Ethereum Trust, investment vehicles that seek to track the coins’ prices. He said the holdings ...