Comprehensive Crypto Bill Coming up in US, Senator Lummis Says
U.S. Senator Cynthia Lummis is said to to introduce a comprehensive crypto bill next year, Bloomberg reported on Thursday. The bill will cover the full spectrum from cryptocurrency taxation to consumer protection, the pro-Bitcoin Republican senator from Wyoming explained.
According to the news outlet, Lummis’ bill will provide clear guidance on which asset class a certain asset belongs to and will also provide clarity around the regulation of stablecoins. Furthermore, it will propose the creation of a new entity to oversee the crypto market that will operate under the joint jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Lummis, who sits on the Senate Banking committee, wants nothing short of full normalization for digital assets in the U.S. The senator is pro-Bitcoin and has repeatedly said that bitcoin is a great store of value and had previously called Bitcoin a “great equalizer” which can serve against the debasement of currencies, ultimately bringing people together.
In October, she had said in Congress:
“Thank God for Bitcoin, and other non-fiat currencies, that transcends the irresponsibility of governments, including our own.”
Lummis bought her first Bitcoin back in 2013 when the top cryptocurrency was trading around $300 and since then became a HODLer.
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Source: igaming
