TETON VILLAGE, WY. — The window for crypto legislation in 2024 is narrowing, but there is still a path toward getting something passed this year, Sen. Cynthia Lummis (R-Wyo.) said Wednesday.
SanyaSenator 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.
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.
CointelegraphSenators confirmed that Bitcoin and Ether will be classified as commodities and regulated by the CFTC.
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.
CointelegraphThe comprehensive new bill sorts out regulators and addresses taxes, environmental impact, security and other major questions surrounding digital assets.
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