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Pro-Bitcoin Senator to Introduce Comprehensive Crypto Bill in US – Regulation Bitcoin News

US Senator Cynthia Lummis of Probitcoin has reportedly announced plans to introduce a comprehensive crypto bill that covers everything from cryptocurrency taxation and classification to consumer protection. The bill also proposes the creation of new entities to oversee the digital asset market.

Senator says a comprehensive crypto bill will emerge in the United States

US Senator Cynthia Lummis is reportedly preparing to introduce a comprehensive crypto bill next year. A Wyoming Republican senator explained that the bill would cover everything from cryptocurrency taxation to consumer protection, Bloomberg reported Thursday.

The bill will provide clear guidance on which asset class a particular asset belongs to and will also establish a framework for regulating stablecoin, a senior senator aide told the press. .. In addition, we propose the creation of a new entity to oversee the crypto market, which operates under the joint jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

Lumis is a member of the Senate Banking Commission.She has bitcoin Great store worth it.. Senator recently confirmed that she owns about five Bitcoins and has no plans to sell them.she BTC Part of a broad portfolio that includes her family’s ranch.

October, Lumis Said In Congress: “Thank God for Bitcoin and other fiat currencies that transcend the irresponsibility of governments, including ourselves.”

Several bills have already been submitted to Congress with the aim of regulating the crypto sector. August, US Congressman Don Beyer Introduced “Digital Asset Market Structure and Investor Protection Act”. The bill empowers the SEC on digital asset securities and the CFTC on digital assets.

In April, the US House of Representatives passed a bill submitted by Congressman Patrick McHenry, who supports Bitcoin. need The SEC and CFTC will “establish a working group focused on digital assets.”

In August, two US lawmakers requested the establishment of a SEC chair and a CFTC deputy chair. Collaborative Working Group Due to the regulation of crypto assets. Other efforts to regulate the crypto industry includeDigital Commodity Exchange Act 2020 (DCEA) “and”Cryptocurrency Act of 2020.. “

Tags for this story

Bitcoin bill, CFTC, Clear cryptography, Cryptographic regulation, Cryptocurrency law, Cryptocurrency bill, Cryptocurrency law, Cryptocurrency regulation, Cynthia Lummis, SEC, We Congress, Our cryptographic regulations, We Senators

What do you think of Senator Lumis planning to introduce a comprehensive cryptocurrency bill? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian student, has been an evangelist since he found Bitcoin in 2011. His interests are in Bitcoin security, open source systems, network effects, and the crossroads of economics and cryptography.

Image credit: Shutterstock, AIXabay, Wikicommons

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