Wyoming Republican Senator Cynthia Lummis intends to introduce "comprehensive" regulation of cryptocurrencies in 2022, Bloomberg has reported. According to the publication, the bill will cover everything from the taxation of cryptocurrencies, to their classification and consumer protection. However, at the moment it remains unknown when the bill is scheduled to be launched.
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The bill, when passed, will provide regulators with clear guidance on the regulation of cryptocurrencies and create a new entity under the joint jurisdiction of the US Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC).
Lummis, as a member of the Senate Banking Committee, is considered by the crypto community to be a key advocate among US lawmakers. For instance, in October, as reported by Bloomberg referencing the expense statement, the senator invested between $50,001 and $100,000 in Bitcoin. In October, Lummis thanked God for Bitcoin and other non-fiat currencies. Notably, the politician delivered a speech in the Senate praising digital assets that transcend "government irresponsibility."