Senator Lummis to propose new Bitcoin bill
Will cover taxation and oversight
Pro-Bitcoin Wyoming Senator Cynthia Lummis is planning to introduce a detailed bill on Bitcoin and crypto in 2022.
The proposed bill will aim to provide regulatory clarity on stablecoins, guide regulators as to which cryptos belong to different asset classes, and offer consumer protections.
Along with this, the senator reportedly proposed establishing an organization under the joint jurisdiction of the Commodity Futures Trading Commission and the Securities and Exchange Commission to oversee the crypto market.
On Twitter, Lummis asked U.S. voters to reach out to their senators to support the bill, saying she was looking for bipartisan cosponsors.
Bitcoin Magazine @BitcoinMagazineBREAKING – US Senator Cynthia Lummis to propose new bill for #Bitcoin next year 🇺🇸 https://t.co/oYkTl3luen
Lummis has not hidden her support for Bitcoin in the past, as in October, she bought around $50,000 to $100,000 worth of Bitcoin, according to a Periodic Transaction Report.
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