Lummis, Key U.S. Senator on Crypto Bill, Negotiating Dicey Points With White House

Senator Cynthia Lummis, a key negotiator on the U.S. crypto market structure bill, revealed that the White House has rejected proposed ethics language she developed with Democrats. The disagreement centers around preventing top officials from profiting from the industry they regulate, a concern aimed at figures like former President Trump. Democrats are also seeking assurances of bipartisan representation on the Commodity Futures Trading Commission and the Securities and Exchange Commission. Despite these hurdles, Lummis aims to release a draft of the bill by the end of the week and mark it up formally next week, acknowledging the rapidly changing legislative landscape and the industry's growing impatience for progress. Senator Gillibrand emphasized the bill's comprehensiveness, noting it addresses issues, like decentralized finance exchanges, that the House's previous crypto legislation did not.

(Source：CoinDesk)