Lummis-Gillibrand crypto bill comprehensive but still creates division
The senators introduced new approaches to familiar questions concerning digital assets and decide how to divide regulatory responsibilities. It was first reported before Christmas that Wyoming Senator Cynthia Lummis planned to introduce a comprehensive crypto regulation bill. The Republican Lummis was already known for her pro-crypto stance and announced right away that she was looking for a Democratic co-sponsor. New York Senator Kirsten Gillibrand, who had not previously been known to have a strong position on cryptocurrency, was named as the co-sponsor in March. The highly awaited....
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Senator Cynthia Lummis said that non-crypto-versed Senators will need some time to understand and digest the proposals. The major bipartisan crypto bill led by U.S. Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) will most likely be deferred to next year according to the duo. Speaking during Bloomberg’s Crypto Summit on July 19, the Senators stated that there is a slim chance that the comprehensive bill would be pushed through the Senate this year, with Lummis noting that: “I think both Kirsten and I believe that the bill, in one piece, as a total bill is more likely....
Senator Cynthia Lummis has won support from a Democrat senator for her new digital asset bill. United States Senator from New York Kirsten Gillibrand revealed working with Senator Cynthia Lummis on a broad-based regulatory framework for the crypto industry on Thursday during a live event in Washington, D.C. As Gillibrand specified, she and Lummis are undertaking “a very complex and intensive review” of different aspects of the industry, with a future regulatory task-sharing in mind. The framework will see both the Commodity Futures Trading Commission (CFTC) and Securities and Exchange....
The bipartisan Lummis-Gillibrand overhaul legislation has been introduced – here’s everything you need to know about the Bitcoin and crypto bill.
The comprehensive new bill sorts out regulators and addresses taxes, environmental impact, security and other major questions surrounding digital assets. The long-awaited Responsible Financial Innovation Act to create a regulatory framework for digital assets was introduced in the United States Senate on Tuesday. The official text of the 69-page document was also released. The bipartisan bill, sponsored by Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, “addresses CFTC and SEC jurisdiction, stablecoin regulation, banking, tax treatment of digital assets, and....
Senators confirmed that Bitcoin and Ether will be classified as commodities and regulated by the CFTC. One can hardly name a document more long-hoped-for as the crypto bill, co-sponsored by United States Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, was for the crypto community. And, it’s finally here. Last week, Lummis and Gillibrand introduced a 69-page bill in the U.S. Senate. What’s inside? The projects of study on the environmental impact of digital assets and advisory committee on innovation, a tax structure, a mandate for analysis of the use of digital....