Senator Lummis urges Congress to pass crypto market legislation

Senator Cynthia Lummis, a Republican from Wyoming and a strong advocate for cryptocurrency, has called on Congress to pass market structure legislation for digital assets. Lummis argued that vague regulations are forcing digital asset companies to move offshore, stating that the proposed legislation will establish clear jurisdiction and strong protections to ensure America remains a leader in the field. The bipartisan bill specifically seeks to clarify regulatory oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) by defining which digital assets are securities versus commodities. Lummis, who plans to retire in 2027, is dedicating her remaining time in the Senate to these crypto initiatives, which also include the Bitcoin ACT and legislation to exempt small crypto transactions from capital gains taxes.

(Source：Crypto Briefing)