Sen. Cynthia Lummis to Introduce New Cryptocurrency Bill Next Year
4 d ago•1 min read•Other
Wyoming Republican Senator Cynthia Lummis has made a name for herself within the cryptocurrency community for her favorable stance on the matter. Now, she will reportedly introduce a comprehensive bill next year.
Sen. Cynthia Lummis – a well-known Bitcoin HODLer – will reportedly introduce a cryptocurrency bill next year. It will be covering everything from consumer protections to how crypto is taxed and categorized. The main purpose of the bill would be to provide regulators with clear and concise guidance on which assets belong to various asset classes, to regulate stablecoins, and to protect consumers. Also, the bill would also see the creation of a new organization that would be under the joint jurisdiction of the US Securities and Exchange Commission and the Commodity Futures Trading Commission. CryptoPotato reported that Cynthia Lummis will be serving on the US Senate Banking Committee. Bloomberg reports, though, that the proposed bill would likely face a tough path in the Senate which is split evenly on partisan lines on the matters of cryptocurrency.