Senator Lummis Will Present Crypto Bill in 2022

by in Cryptocurrency News

Cynthia Lummis Bitcoin

US senator Cynthia Lummis, who is a supporter of crypto, announced her plans to put forward a comprehensive crypto bill that will bring the industry clarification. The politician is in favor of including crypto in financial systems properly.

Related: Stablecoins Hearing Held at the US Congress

A Bloomberg release says, the regulatory structure that the congresswoman is going to introduce next year aims to clarify legal infrastructure for stablecoins, offer consumer protection and guide regulators on which cryptos belong to other asset classes.

Previously, the Senator mentioned the need for a new structure that will operate under the united jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission. The body would be responsible for crypto regulations.

Discussions among US lawmakers to set the regulatory framework for digital assets are getting wider, as the sphere continues to grow. This month, Congress held 2 hearings; one about crypto in general with crypto CEOs, and the other focused on stablecoins.

Sen Lummis mentioned the important role of crypto many times in her speeches. She said she's thankful that Bitcoin and other cryptos exist and that they fight against inflation. Lummis also holds Bitcoin. As CNBC reports, Lummis told the media that the first time she bought BTC was in 2013, paying $330 per token.

This August, she acquired BTC valued between $50,001 to $100,000 according to a filing.

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At the moment Bitcoin trades at over $51.000. In the last 24 hours, the coin’s price went up by around 6%, breaking above $50.000 for the first time in 2 weeks. The BTC market dominance index stands at 40.5%, and its market cap is over $968 billion.