US senators Cynthia Lummis and Kirsten Gillibrand are working on a cryptoasset bill.
Wyoming senator Cynthia Lummis and New York senator Kirsten Gillibrand are working on a bill that focuses on regulatory clarity. Gillibrand says the study will provide a broad-based framework for how the industry should be organized in the future. On the other hand, the bill, which does not know the details, does not aim to change the definitions of the US Securities and Exchange Commission (SEC). Gillibrand said:
“That’s not the point of our design… We’ll take existing parameters, existing definitions, and then place different types of products in different places.”
The bill also aims to allay concerns with the controversial infrastructure law that places a huge tax burden on the crypto industry.
The bill is scheduled to be submitted in the coming weeks.
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