Senator Ted Cruz proposes crypto as payment for vendors doing business on Capitol Hill
Ted Cruzwants merchants on Capitol Hillto be able to accept cryptocurrency as payment.
- The Texas Republican filed a resolution calling on administrative managers to work on crypto-friendly payment contracts.
Sen. Ted Cruz wants to allow food vendors and other merchants serving US Congress to accept cryptocurrency as payment, saying the move could foster wider acceptance of digital-payments technology.
In a resolution dated Nov. 1, the Texas Republican calls for administrative managers on Capitol Hill to solicit and enter contracts that would let businesses take digital assets as payment for goods.
Businesses and consumers are increasingly embracing cryptocurrency. Congress, however, "is typically slow to adopt new technology," Cruz told Breitbart News. "My bill would position Congress to lead on this issue by having congressional cafeterias, vending machines, and gift shops accept crypto
The resolution also says administrative managers may not enter into contracts that would preclude the selection of other payment types that are cost-effective and offer value to customers.
Cruz has positioned himself as a proponent of
And last month, Cruz said at the Texas Blockchain Summit that bitcoin mining could help the state with its power grid problems.
The state of Texas is also emerging as a cryptocurrency hotspot as bitcoin miners increasingly relocate there to take advantage of its deregulated energy market.
- Over 60 schools in and around Bengaluru receive bomb threat, students evacuated safely
- TVS Motor Co sales rise 31% to 3,64,231 units in November
- Johnny Depp unknowingly taught Ranveer Singh the craft of acting
- Midcap index rising for last 21 sessions, hitting fresh highs since November 16
- Global smartwatch shipments up 9% in Q3, Fire-Boltt & Huawei hit new highs: Report