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- Sen. Ted Cruz wants merchants on Capitol Hill to be able to accept cryptocurrency as payment.
- The Texas Republican filed a resolution calling on administrative managers to work on crypto-friendly payment contracts.
- Crypto payments at vending machines and gift shops would be accepted under Cruz's resolution.
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 payments."
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 cryptocurrencies. He recently spoke out against provisions in a bipartisan Senate bill that included new tax rules for crypto-trading firms and brokers aimed at raising $28 billion in new revenue over a decade. The money would be used to fund President Joe Biden's infrastructure package, the White House has said.
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.
source https://markets.businessinsider.com/news/currencies/senator-ted-cruz-proposes-cryptocurrency-payment-capitol-hill-vendors-bitcoin-2021-11