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A bipartisan bill regulating the crypto industry as a full-fledged document could be passed in 2023. This was stated by the US Senator from Wyoming Cynthia Lummis during
A bipartisan bill regulating the crypto industry as a full-fledged document could be passed in 2023. This was stated by the US Senator from Wyoming Cynthia Lummis during the Bloomberg Crypto Summit.
Some lawmakers will need more time to understand the issue, he said. Co-author Kirsten Gillibrand added that policymakers and regulators are “starting to understand the need” for consumer protection.
“Both Kirsten and I believe that as a general bill the document as a whole will be postponed to next year,” Lummis said.
He also did not rule out that parts of the “Responsible Financial Innovation Act” will be ratified in 2022 as part of other regulations. In particular, Gillibrand and his colleagues Debbie Stabenau and John Boozeman CFTC Powers of the main body for oversight of the crypto industry.
Lammis added that the section devoted to the regulation of stablecoins could be included in the document developed by the Banking Committee.
“There is now additional interest because they [законодатели] “We saw that it is important to do this, that consumers are not protected today, there is no oversight or accountability, and there are no rules.”
Earlier, Elizabeth Warren, a member of the US Senate Banking Committee, urged Congress and the Securities and Exchange Commission (SEC) to take a tougher stance towards the crypto industry.
The senators’ statements came amid the problems of Celsius Network, Voyager Digital, Three Arrows Capital and the collapse of the Terra ecosystem.
Recall that in December 2021, Lummis called a bill regulating cryptocurrencies “comprehensive”. The document was planned to cover a range of topics, from taxation to consumer protection.
In March 2022, some of its details became known, including the oversight division between the CFTC and the SEC. Later, the Wyoming senator explained that the draft did not include provisions for non-tradable tokens due to the difficulty of classifying them.
In June, Lummis and Gillibrand unveiled the full Responsible Financial Innovation Act.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
