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Senator Ted Cruz introduced a measure in the Senate Wednesday advocating for crypto payments within areas of the Capitol, a sign of Republicans\u2019 continued focus on rules related to digital assets.<\/span><\/p>\n The <\/span>new directive<\/span><\/a> would apply to officials tasked with overseeing day-to-day operations within the House of Representatives and Senate, encouraging them to work with \u201cpersons that will accept digital assets as payment for goods\u201d and food services.<\/span><\/p>\n The proposal references areas of the Capitol where digital payments could work, like at gift shops or vending machines. This past November, Cruz pushed for adopting cryptocurrencies such as Bitcoin<\/span><\/a> as a form of payment within Capitol buildings through a similarly worded <\/span>document<\/span><\/a>.<\/span><\/p>\n <\/p>\n The changes were put forth in a so-called concurrent resolution, \u201cgenerally used to make or amend rules that apply to both houses,\u201d according to the Senate\u2019s <\/span>website<\/span><\/a>. While it doesn\u2019t need the president\u2019s signature to take effect, the measure would still need to be approved by both the House and Senate.<\/span><\/p>\n Ted Cruz\u2019s move Wednesday follows the creation of the Subcommittee on Digital Assets, Financial Technology and Inclusion earlier this month. As a subsection of the House Financial Services Committee, one of its <\/span>main goals<\/span><\/a> is to establish \u201cclear rules of the road among federal regulators.\u201d<\/span><\/p>\n When Congressman Patrick McHenry (R-NC) was appointed as chairman of the House Financial Services Committee last month, he stated<\/a> that developing a \u201ccomprehensive regulatory framework for the digital asset ecosystem\u201d would be a central focus of his.<\/span><\/p>\n Over time, Texas has become a hotbed of activity for mining cryptocurrencies like Bitcoin, an industry that Cruz has largely embraced. After visiting a mining facility this past summer, the Senator said, \u201cI am proud to lead the fight for the crypto industry in the Senate.\u201d<\/span><\/p>\n Today I had the pleasure of touring the largest #Bitcoin<\/a> mining facility in North America in Rockdale!<\/p>\n I am proud to lead the fight for the crypto industry in the Senate.<\/p>\n Texas will continue to be the center for crypto innovation! pic.twitter.com\/28BYfEhJzQ<\/a><\/p>\n \u2014 Senator Ted Cruz (@SenTedCruz) August 30, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n His history of swinging for the crypto faithful goes back well beyond a year. In August of 2021, the Texan <\/span>vocalized support<\/span><\/a> for amending a $1 trillion infrastructure bill being passed at the time to exempt non-custodial crypto firms\u2013like Bitcoin miners\u2013from an included tax reporting requirement.<\/span><\/p>\n The effort ultimately failed, but Cruz later <\/span>introduced<\/span><\/a> legislation that sought to repeal the cryptocurrency provisions included in the Infrastructure Investment and Jobs Act entirely.<\/span><\/p>\n Cruz is also one of the <\/span>numerous elected officials<\/span><\/a>, including Sen. Cynthia Lummis (R-WY), that have provided insight into purchases of Bitcoin through financial disclosures. A <\/span>filing<\/span><\/a> indicates that Cruz purchased between $15,001 and $50,000 worth of Bitcoin through the exchange River Financial almost exactly one year ago.<\/span><\/p>\n\n