US Senator Cynthia Lummis plans to propose a sweeping bill to regulate the digital asset industry in early 2022.
The proposed legislation includes guidelines and general rules for the taxation of digital assets, rules for stablecoin issuers, and consumer protection measures. In addition, the bill proposes the creation of a regulator, which will include leading US financial authorities.
In her message on Twitter, the deputy asked subscribers to support her initiative.
Lummis has already expressed support for cryptocurrencies several times. She is an investor herself, and officially owns 5 BTC worth approximately $250,000.
With the exception of Senator Pat Toomey, Lummis is the only ranking member of the Senate Banking Committee to hold cryptocurrency. Both senators opposed a provision in the US infrastructure bill that required cryptocurrency brokers to track transaction records for tax purposes.
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