Senator Cynthia Lummis has stated that her efforts to promote a favorable crypto regulatory framework are ongoing, with the rapid innovation and increased usage of cryptocurrencies heightening the urgency.
in the recent debt ceiling deal. Lummis emphasized that the battle to establish a transparent regulatory framework for the crypto industry is far from concluded.
The proposed bill aims to achieve several objectives, including clearly defining cryptocurrencies and potentially removing the “security” designation. By establishing a precise classification for tokens, the legislation seeks to create a stable framework for businesses and investors in the crypto industry. The effort will address regulatory uncertainties, stimulate innovation and promote responsible growth within the sector.Gillibrand has stressed the significance of a meticulous approach.
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