United States Senator Cynthia Lummis is continuing her efforts to establish a regulatory framework for digital assets in the country. She has received praise from Crypto Twitter for her commitment to the initiative, which aims to facilitate ownership and trading of cryptocurrencies. Lummis is collaborating with Senator Kirsten Gillibrand on a bipartisan bill that seeks to provide clear guidelines for acquiring tokens and remove the “security” designation from cryptocurrencies.
– Senator Cynthia Lummis is pushing for a regulatory framework for digital assets in the United States.
– She is collaborating with Senator Kirsten Gillibrand on a bipartisan bill that aims to provide clear guidelines for acquiring tokens and remove the “security” designation from cryptocurrencies.
– The proposed legislation will address regulatory uncertainties, stimulate innovation, and promote responsible growth within the sector.
Key points:
– Lummis successfully prevented a 30% digital asset mining tax from being included in the recent debt ceiling deal.
– The proposed bill aims to create a stable framework for businesses and investors in the crypto industry by defining cryptocurrencies and potentially removing the “security” designation.
– The legislation seeks to impose a universal ban on algorithmic stablecoins, but further deliberations are necessary to determine the entities authorized to issue stablecoins and the requirements for maintaining U.S. dollar reserves.
