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US politician wants to submit comprehensive crypto bill

 


With her comprehensive crypto bill, Cynthia Lummis wants to achieve a relevant consensus across party lines.


The US Senator Cynthia Lummis, who represents the state of Wyoming and has already launched several crypto-friendly legislative initiatives, wants to present a comprehensive bill to regulate cryptocurrencies in the coming year.


As Bloomberg reports , Lummis wants to create legal clarity in dealing with stablecoins, clear guidelines for the legal classification of different crypto currencies in the different asset classes and an improved protection of crypto investors with their draft. An ambitious plan, which is why the politician is also proposing the establishment of a new regulatory organization, which should be under the joint responsibility of the US Securities and Exchange Commission and the US CFTC.


On Twitter , Lummis calls on voters from all camps to report their support for the draft directly to their respective senators in order to achieve a consensus that is as non-partisan as possible. Lummis has already proven that the Senator herself is ready for such pertinent mergers on the subject of cryptocurrencies, because although the politician is actually considered a very conservative Republican, this year, together with the Democrats Mark Warner and Kyrsten Sinema, she presented a draft amendment that should correct the problematic crypto regulation proposals of the government-Biden's infrastructure funding program.


These strategic alliances are absolutely necessary, because if the draft law comes to a vote in the Senate, it would need at least 60 votes to be passed. The Democrats currently control 50 out of 100 seats in the Senate, and Democratic Vice President Kamala Harris has the decisive vote in the event of a tie. The Republican Senator is therefore inevitably dependent on the support of the other side.


However, Lummis was an advocate of crypto even before she was elected Senator. Accordingly, it is most itself on the market of the party, because as of their parliamentary duty to disclose is clear , it has worth 50,001 to 100,000 US dollars in Bitcoin ( BTC invested). She is not alone in that, because there are now a large number of US MPs who have invested in crypto , including Marie Newman (Illinois), Michael McCaul (Texas), Pat Toomey (Pennsylvania), Barry Moore (Alabama), Jefferson Van Drew (New Jersey) and Michael Waltz (Florida).


However, there are also politicians in the American Parliament who completely reject crypto investments. For example, the aspiring democrat Alexandria Ocasio-Cortez feels that the MPs should maintain their own neutrality and should therefore forego the possession of Bitcoin & Co.

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