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Introduced by Sens. Lummis (R-WY) and Gillibrand (D-NY), the bill aims to create clarity for regulators and the crypto industry to safeguard investors and consumers.
After a tumultuous year for crypto, a bipartisan duo in Congress is seeking to legitimize the industry by directing the U.S. government to formally regulate it.
Senators Kirsten Gillibrand and Cynthia Lummis introduced their long-awaited crypto legislation that favors the CFTC as a watchdog and wipes away tax worries for purchases of less than $200.
The bill was first introduced "into the House Financial Services Committee and the Committee on Agriculture in June 2023." [2] In early May 2024, the bill was jointly approved by both the Financial Services committee and the Ag committee (which has jurisdiction for law related to commodity exchanges). This set the stage for consideration of the ...
Digital asset regulation has become a partisan issue, especially as a government shutdown looms.
Cynthia Marie Lummis Wiederspahn (/ ˈ l ʌ m ɪ s / LUH-miss; [1] born September 10, 1954) is an American attorney and politician serving as the junior United States senator from Wyoming since 2021. A member of the Republican Party, Lummis served as the U.S. representative for Wyoming's at-large congressional district from 2009 to 2017.
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U.S. digital asset ownership jumped from 30% in 2023 to 40% in 2024. Congress must rise to the occasion and pass FIT21. The House crypto bill could be the answer to America’s regulatory soul ...