Cynthia Lummis to Step Down, Recognized for Contributions to Crypto Industry

According to BlockBeats, the crypto community expressed regret over Senator Cynthia Lummis's decision not to seek re-election next year, acknowledging her contributions to the industry. David Sacks, the White House's AI and crypto affairs director, described Lummis as a 'great ally in the crypto space.' Collin McCune, head of government affairs at a16z, stated that the crypto industry would not have reached its current level without Lummis's efforts in Congress. Bitcoin advocate and 'Coin Stories' host Greg Xethalis thanked Lummis for her service and efforts in advancing Bitcoin, wishing her well in her future endeavors. Lummis announced on Friday that she will not seek re-election next year. As the chair of the U.S. Senate Banking Subcommittee on Digital Assets, she introduced the Bitcoin Strategic Reserve Act and was a key proponent of the CLARITY Act (Crypto Market Structure Act) and the Responsible Financial Innovation Act. During the Biden administration, Lummis openly criticized former SEC Chairman Gary Gensler's punitive enforcement approach to cryptocurrency regulation.