{"id":21447,"date":"2026-02-06T07:37:23","date_gmt":"2026-02-06T07:37:23","guid":{"rendered":"https:\/\/bitunikey.com\/news\/us-senator-lummis-says-banks-should-adopt-stablecoins-not-resist-them\/"},"modified":"2026-02-06T07:37:29","modified_gmt":"2026-02-06T07:37:29","slug":"us-senator-lummis-says-banks-should-adopt-stablecoins-not-resist-them","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/us-senator-lummis-says-banks-should-adopt-stablecoins-not-resist-them\/","title":{"rendered":"US Senator Lummis says banks should adopt stablecoins, not resist them"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">U.S. Senator Cynthia Lummis said banks should embrace digital assets rather than resist them, arguing that cryptocurrencies and stablecoins offer new products and revenue opportunities for traditional financial institutions.<\/p>\n<div id=\"cn-block-summary-block_20a7da39dcb44033ed048e5247053eaa\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Senator Cynthia Lummis said banks should embrace digital assets, arguing that stablecoins and crypto services create new products and revenue opportunities for financial institutions.<\/li>\n<li>She said blockchain-based payments can make transactions faster and cheaper for consumers, particularly for cross-border transfers.<\/li>\n<li>Lummis emphasized the need for strong safeguards, saying lawmakers and regulators are working to ensure digital assets integrate safely into the financial system.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>In a Fox News interview <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/SenLummis\/status\/2019577029050401212\" target=\"_blank\" rel=\"nofollow\">shared<\/a> on X, the Wyoming Republican said blockchain-based payments can make financial services faster and cheaper while expanding what banks can offer their customers. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Digital assets are the future of financial services.<\/p>\n<p>We are putting strong safeguards in place to ensure their seamless integration, making life easier and more affordable for the American people. <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/5tI0SqCb5M\">pic.twitter.com\/5tI0SqCb5M<\/a><\/p>\n<p>\u2014 Senator Cynthia Lummis (@SenLummis) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/SenLummis\/status\/2019577029050401212?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 6, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">Lummis says digital assets offer new opportunities for banks<\/h2>\n<p>\u201cOne of the things I don\u2019t understand about the bank\u2019s resistance is this gives them an entirely new financial product that they can offer to their customers,\u201d Lummis said.<\/p>\n<p>She pointed to digital asset custody and stablecoin payments as areas where banks could play a larger role. <\/p>\n<p>\u201cWhether it\u2019s custody of digital assets, which three states already allow, or the use of stablecoins as a payment mechanism that\u2019s faster and cheaper than a debit card,\u201d she said, banks stand to benefit.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Faster and cheaper payments for consumers<\/h2>\n<p>Lummis emphasized that the primary benefit of digital assets would be felt by consumers. She said blockchain technology allows money to move more efficiently than existing banking infrastructure, especially for cross-border payments.<\/p>\n<p>\u201cFor consumers, it\u2019s going to be faster and cheaper to do business, whether it\u2019s across the country or overseas,\u201d she said. \u201cMoney can be transmitted on the blockchain more quickly than it can if you\u2019re going through existing bank structures.\u201d<\/p>\n<p>She argued that these efficiencies could lower costs for everyday transactions and international transfers. She also noted that lawmakers and regulators have been working to ensure consumer protection as digital assets become more widely used.<\/p>\n<p>\u201cWe want to make sure that not only is it faster and cheaper, but that it\u2019s still safe,\u201d she said. Lummis added that discussions with the Federal Reserve have focused on ensuring appropriate safety mechanisms are in place.<\/p>\n<p>The senator framed digital assets as a natural evolution of financial services rather than a threat to the existing system. She said a range of stakeholders are working to integrate blockchain-based products into modern finance.<\/p>\n<p>\u201cThere are a lot of interested parties in making sure that as we integrate this into the 21st century financial services industry, that it integrates beautifully,\u201d she said.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Senator Cynthia Lummis said banks should embrace digital assets rather than resist them, arguing that cryptocurrencies and stablecoins offer new products and revenue opportunities for traditional financial institutions. Summary&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21447"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21447\/revisions"}],"predecessor-version":[{"id":21448,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21447\/revisions\/21448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/6196"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}