A Texas congressman, Lance Gooden, wants to put Bitcoin ATMs in federal buildings. He thinks it would be a good way for people to learn about cryptocurrency.
Gooden’s Proposal: An “Educational Resource”
In a letter to the General Services Administration (GSA), Gooden suggested that these ATMs would serve as an educational tool for the public. He asked the GSA to look into the rules and regulations needed to make this happen. Interestingly, public records show no cryptocurrency investments or ATM company ties for Gooden since he became a congressman.
Questions about Authority and Funding
The GSA manages government buildings. While they allow federal credit union ATMs, it’s unclear if they have the power to allow private crypto ATMs without Congress’s approval. Getting the money for this project would likely also need Congressional action.
Trump’s Crypto Ties
This proposal comes at a time when President Trump has significant involvement with cryptocurrencies, including personal investments, campaign accounts, and even a meme coin named after him. This raises questions about potential conflicts of interest.
Balancing Innovation and Consumer Protection
This proposal is happening as the Senate considers stricter regulations on crypto ATMs to fight fraud, especially targeting scams that harm older people. This highlights the ongoing debate between encouraging cryptocurrency innovation and protecting consumers from scams.