According to Odaily Planet Daily, Senator Cynthia Loomis warned in an interview with CNBC channel Squawk Box that the United States lags behind the European Union in digital asset regulation.

“The EU is ahead of us,” Loomis said, stressing the importance of the U.S. taking the lead on financial services and digital asset regulation.

She criticized the Securities and Exchange Commission's (SEC) heavy-handed enforcement tactics, particularly under Chairman Gary Gensler.