Senator Cynthia Calls For Crypto Regulation
In a recent CNBC television interview, pro-crypto US Senator Cynthia Lummis emphasised the critical need for a regulatory framework that integrates cryptocurrencies into the US economy while putting consumer protection first.
Lummis announced plans to reintroduce a crypto regulatory measure that was stalled in Congress last year, claiming that the new version will include critical comments from the Securities and Exchange Commission (SEC).
Lummis emphasised the importance of exchanges being registered with the Commodity Futures Trading Commission (CFTC) and addressing illicit funding to ensure the crypto ecosystem’s stability.
Notably, the proposed bill aims to establish suitable penalties, secure the assets and reserves that support cryptocurrencies, and implement further consumer protection safeguards.
(With inputs from Shikha Singh)
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