Senate Majority Leader Chuck Schumer Aims to Pass Crypto Legislation by the End of the Year

🔺Chuck Schumer, the US Senate Majority Leader, has announced plans to pass legislation governing cryptocurrencies by the end of 2024. He stressed that it is Congress' responsibility to "provide sensible regulation," with the goal of balancing innovation with appropriate safeguards.

✅ Goal: Pass the Senate bill into law by the end of the year.

✅ Current efforts: Multiple bills are being drafted but have not yet reached President Biden. Sens. Lummis and Gillibrand have introduced bills targeting algorithmic stablecoins, and Sen. Stabenow is working on a bill that is expected to be considered again in September.

✅ Schumer emphasized the importance of this legislation:

"Crypto is here to stay, and Congress has to get it right."

🖥 Election-Related:

🔹 Crypto4Harris, a crypto advocacy organization, launched a few weeks ago and describes itself as “a grassroots network of crypto advocates organizing, fundraising, and developing a nuanced crypto policy approach for the Harris For President campaign.”

🖥 Overview:

🔹 Cryptocurrency has become a hot topic in the upcoming election season, with millions of dollars pouring into political action committees and presidential candidate Donald Trump vowing to end the “unlawful and anti-democratic crackdown” on the US crypto industry.

🔗 Source: https://t.me/cryptoanalysisvn/1/1998

#CryptoCurrurencyNews #Blockchain #MarketDownturn #bitcoin $BTC