U.S. Senators Cynthia Lummis and Kirsten Gillibrand may soon introduce the latest bill seeking to regulate the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. industry in their country.
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- Lummis and Gillibrand’s bill will be introduced this week, according to reports.
- Lummis believes the crypto industry in the U.S. must have a regulatory framework
- Lummis and Gillibrand will be at the event today. DC Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Summit .
The account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Twitter Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. Archivewoke up today with this news:
LATEST: Senator Lummis to introduce Bitcoin regulatory framework.
????BREAKING: Senator Lummis to introduce #Bitcoin policy framework.
— Bitcoin Archive ???????????? (@BTC_Archive) May 24, 2022
Ya desde comienzos de mes se ha venido hablando de la inminencia de la presentación del proyecto de ley cripto de Lummins y Gillibrand al Congreso de Estados Unidos. Vale recordar que la propia senadora por el estado de Wyoming y gran amante de Bitcoin Cynthia Lummins had ratified last March that it would present the bill in 2022, and that in 2022 it would que had announced in December 2021 .
Cynthia Lummis, U.S. Senator from Wyoming and one of Wyoming’s most vocal congresswomen, is one of the most vocal advocates for Bitcoin has been working for some time on this legal project that, he says, will help the country clear up regulatory uncertainty. The bill also has the support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. of Democratic Party Senator Kirsten Gillibrand.
A comienzos de este mes, en entrevista con el medio Axios, Lummis said that the bill adapts the legal framework so that cryptocurrencies and traditional assets fall under similar regulatory categories.
“We’ve designed it to work within the usual framework of traditional asset management and regulation. So, for example, Bitcoin is a commodity. So it would fall under the Commodity Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Trading Commission for trading purposes and the spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. market an area or arena, online or offline, in which commercial dealings are conducted. and the futures market. And then when something fits the Howey test, that makes it a security, it would fall under the Securities Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission.”
Shall not include NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain).
He added that the project will be presented “as a great piece for people to see the big picture, how the commodity components work, with the value components, with the stable currencies and with the potential CBDC (central bank digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency).”
In addition, Lummis emphasized that the lack of Congressional guidance on the issue of cryptocurrencies and decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. technologies has led regulatory agencies, such as the Securities and Exchange Commission, SEC, have to make decisions on the fly. This should change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. once this law is passed.
In the interview he also clarified that los NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. will not be addressed in the bill because, for now,“es muy difícil descubrir cómo categorizarlos”. Sin embargo, espera que las agencias reguladoras ayuden a comprender dónde deberían encajar estos nuevos activos digitales.
En un evento hoy
In addition, during an event at the American Enterprise Institute, Senator Lummis, from the Republican Party, spoke about what will be her bipartisan bill for cryptocurrencies. At the event, she said that both she and Senator Gillibrand have been studying the loopholes that exist to regulate cryptoassets in current regulations and laws.
Also, during an interview earlier this month with Axios, Senator Lummis outlined some of the possible solutions she is proposing in her proposal to ensure financial stability, development and innovation, without risking the security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. of investors.
Surely today, May 24th, at the event DC Blockchain Summit, organized by the Digital Chamber of Commerce, las senadoras también hablarán sobre el tema. Ellas estarán presentes en el panel titulado “Cryptoconsensus: Bringing bipartisanship to Blockchain.”
In the official presentation of the bill, which some media say will be this week, Senators Lummis and Gillibrand will show the final wording of their legal proposal. However, on the other hand, some sources have said that the presentation will not be this week, but will be on June 7 when the bill will be formally presented.
According to reports from last year, the senator is also the holder of Bitcoin and had in October 2021 around USD $100,000 and BTC, which must have been reduced by about 50%, as the price when he gave the information was approximately USD $60,000 for Bitcoin.
Sources: Twitter, Cryptopotato , Bit2me , Axios , archivo
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