On Wednesday, it was revealed that Wyoming Republican Senator Cynthia Lummis, who is one of the crypto industry's staunchest supporters in Congress, plans to introduce a comprehensive crypto bill next year that will cover everything from digital asset taxation and classification to consumer protection.
A senior aide to the senator told Bloomberg on Wednesday that if this bill is passed, it will provide regulators with clear guidance on which assets belong to different asset classes. It will also ensure consumer protection, regulate stablecoins, and create a new organization under the joint jurisdiction of the Commodity Futures Trading Commission and the Securities and Exchange Commission to monitor the digital asset market.
Lummis, a member of the Senate Banking Committee, is viewed by industry participants as a key protector of the cryptocurrency, in which she also invests. According to the documentation, she announced last October that she had purchased bitcoins totaling between $ 50,000 and $ 100,000, committed earlier this year. She is also one of a growing number of US politicians who are collecting donations through a cryptocurrency campaign: her Wyoming website accepts Bitcoin donations through the Bitpay platform.
The bill, which has a difficult path to go through an equally divided Senate, which is largely divided into biased positions on cryptocurrency regulation, will be one of the first attempts to establish comprehensive rules of conduct for the growing industry.
