Senator Lummis criticises the proposed 30% tax on Bitcoin mining, highlighting its potential negative impact on the industry and economy.
Cheng YuanSenator Lummis defends crypto, emphasizes focus on bad actors. The Lummis-Gillibrand bill seeks clear rules for the industry, garnering industry support.
Xu LinSens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., will introduce a revised version of their comprehensive crypto regulatory bill.
TheBlockU.S. Congress will need to step in to decide who gets crypto regulation bragging rights if the SEC and CFTC cannot resolve the issue internally.
Cointelegraph“Most cryptocurrencies have come under the jurisdiction of the U.S. SEC ... Bitcoin and ethereum are definitely going to be commodities, that’s already acknowledged,” said U.S. Senator Kirsten Gillibrand from New York.
CointelegraphSenator Cynthia Lummis said that non-crypto-versed Senators will need some time to understand and digest the proposals.
CointelegraphThe senators seek comments from industry stakeholders, consumers and interested parties.
Cointelegraph“Most cryptocurrencies go to the SEC [...] Bitcoin and Ether would be certainly commodities, and that's agreed upon,” said the U.S. Senator from New York Kirsten Gillibrand.
CointelegraphSenator Lummis, R-Wyoming, called on her colleagues not to support Fed Chairman Jay Powell.
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