U.S. Senator Cynthia Lummis is preparing to introduce the Responsible Financial Innovation Act, which will affect how cryptocurrencies are taxed. From a policy-making perspective, owning BTC -0.06%-news/">Bitcoin is no different than owning a cow, she said.
As a senator in office in 2020, Lummis reported holding $50,000 to $100,000 worth of BTC, and in August 2021, she reported buying an additional $50,000 to $100,000 worth of BTC. She did not receive any income from the sale of the assets.