Pro-Bitcoin Senator introduces comprehensive crypto law in the USA-regulation
Pro-Bitcoin Senator introduces comprehensive crypto law in the USA-regulation
The Pro-Bitcoin-Senator Cynthia Lummis has reportedly presented her plan for the introduction of a comprehensive crypto law, which covers everything, from taxation and categorizing cryptocurrencies to consumer protection. The draft law also provides for the creation of a new unit that supervises the market for digital assets.
comprehensive crypto law in the USA, says Senator
Senator Cynthia Lummis is reportedly preparing for the introduction of a comprehensive crypto law next year. The Republican Senator from Wyoming explained that the draft law would cover everything, from taxation and categorizing cryptocurrencies to consumer protection, Bloomberg reported on Thursday.
The draft law will provide clear guidelines for which investment class a certain asset belongs and will also create a framework for regulating stablecoins, said a senator from the news agency. In addition, it is proposed to create a new unit to monitor the cryptoma market, which operates under the common jurisdiction of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (Sec).
lummis is a member of the Senate banking committee. She repeatedly said that Bitcoin has a great value storage . The senator recently confirmed that she has about five bitcoins and does not intend to sell them. Your btc is part of a broad portfolios that comprises the cattle farms of her family.
in October, lummis said in the congress:" Non-Fiat currencies that exceed the responsibility of the governments, including our own. ”
In the congress, several draft laws have already been introduced to regulate the crypto sector. In August, US MP Don Beyer introduced the" digital asset market structure and investor protection law ". The draft law gives the SEC the authority of digital assets and the CFTC authorization on digital assets.
In April the US House of Representatives passed a law that was presented by the Pro-Bitcoin Congressman Patrick Mchenry requires the SEC and the CFTC "to set up a working group that focuses on digital assets".
In August, two US legislators asked the chairman of the SEC and the incumbent chairman of the CFTC, a common working group To regulate crypto-assets. Other efforts to regulate the crypto industry include the " Digital Commodity Exchange Act from 2020 (dcea)" and " cryptocurrency law of 2020 . "
What do you think that Senator Lummis is planning to introduce a comprehensive draft law for cryptocurrencies? Let us know in the comment area below.
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