- United States
- Utah
- Letter
Nominee risks prioritizing cryptocurrencies over U.S. dollar stability
To: Sen. Romney, Sen. Lee, Rep. Maloy
From: A verified voter in Salt Lake City, UT
November 24
The nomination of Howard Lutnick for Commerce Secretary raises valid concerns about the department's potential embrace of cryptocurrencies like Bitcoin over the U.S. dollar, our official currency backed by the federal government. While innovation should be encouraged, the commerce department must prioritize the economic stability and global standing of the dollar. A pivotal role of the agency is overseeing international trade and tariff policies that profoundly impact the strength of the dollar. Pursuing fanciful digital currencies could undermine confidence in our monetary system and national economic interests. We urge a reconsideration of this nominee to ensure the commerce department remains firmly grounded in upholding and promoting the preeminence of the U.S. dollar worldwide.