Reviving Crypto Regulation: Senators Lummis and Gillibrand Set to Present Comprehensive Bill in Congress

By Lola Coin Jul 7, 202361Views

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**Senators Cynthia Lummis and Kirsten Gillibrand Revive Proposed Cryptocurrency Legislation**

Two senators, Cynthia Lummis and Kirsten Gillibrand, are bringing back their proposed cryptocurrency legislation, the Responsible Financial Innovation Act. This bill aims to address the ongoing discussions on cryptocurrency regulations and is the most comprehensive proposal of its kind. It covers important issues such as market structure, oversight of stablecoins, and tax concerns. The senators believe that their legislation provides significant consumer protections and tackles the current dynamics surrounding digital assets. Despite the slow pace of introducing comprehensive crypto legislation in the Senate, Lummis is expected to be a leading voice in the discussions. However, the Senate Banking Committee, which includes crypto skeptics, may pose a significant barrier to the bill’s passage. Timing will be crucial in determining the success of this legislation.

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