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.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
In China, discussion of cryptocurrency on forums is now illegal
Following Alibaba and Tencent, Baidu Tieba, a popular Chinese search platform, is introducing censorship on cryptocurrency topics.
Japan's FSA reports 'quasi-operators' of crypto exchanges in the country
The Financial Services Agency (FSA), Japan's financial regulator, previously gave permission to 16 crypto exchangers to operate in the country. The FSA has also given permission to 16 other exchanges, including Coincheck, to provide cryptocurrency trading services, even though their license applications are still pending.
