One of the U.S.’ Most Important Politicians Is Ready for This Year’s Cryptocurrency Legislation
Senator Cynthia Lummis (R-Wyo.) said the clock is ticking on crypto legislation to pass in 2024, but there’s still a way for something to pass this year
Scott, who hasn’t spoken much about crypto as vice chair of the Senate Banking Committee, said last month at the BTC Nashville conference that she supports crypto-friendly regulations alongside Lummis. If the Senate takes control, Scott will become chair of the Banking Committee and said she’s considering creating a subcommittee focused on digital assets
Lummis and Scott described current committee chair Sherrod Brown (D-Ohio) and Sen. Elizabeth Warren (D-Mass.) as “obstacles” to passing crypto legislation. Lummis said a bill from the Senate Agriculture Committee would be important for anything to be accomplished this year
Senate Majority Leader Chuck Schumer (D-N.Y.) promised at a “Crypto4Harris” event last week that he would ensure that crypto legislation passes the Senate by the end of the year. Lummis suggested that if a bill passes the Agriculture Committee, stablecoin regulations could be added to the bill and it could be turned into a broad financial services bill
He said that if a Republican president and a Republican House and Senate are in office for two years, significant steps could be taken in the crypto industry and other areas
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