New Rules Make it Easier for People and Businesses to Own and Trade Digital Assets in the US
Senator Cynthia Lummis Continues to Advocate for Favorable Crypto Regulations in the US, Citing Urgency due to Cryptocurrency’s Growing Popularity and Advancements.
Crypto Twitter Applauds Lummis as She Expresses Dedication to Creating Rules for Easy Digital Asset Ownership and Trading in the US. Her Tweet Recalls the Upcoming Bill Expected to Launch in April.
Senator Cynthia Lummis and Senator Kirsten Gillibrand Join Forces to Draft Comprehensive Regulations for Cryptocurrencies. The Bipartisan Initiative Aims to Make Significant Progress in Congress, Creating Important Guidelines for the Ever-Changing Digital Asset Industry.
We successfully prevented @POTUS' 30% digital asset mining tax from being included in the debt ceiling deal but the fight is far from over.
I am working on a regulatory framework that will allow individuals and companies to own and trade digital assets in America.
Stay tuned…
— Senator Cynthia Lummis (@SenLummis) June 10, 2023
Lawmaker’s Tweet Celebrates Victory in Blocking 30% Tax on Digital Asset Mining in Debt Ceiling Deal. Lummis Stresses Ongoing Efforts to Establish Clear Crypto Regulations, Acknowledging the Need for Further Progress.
New Bill Aims to Accomplish Several Goals: Clearly Define Cryptocurrencies and Consider Removing “Security” Tag. By Providing Clear Categories for Tokens, the Law Aims to Create a Stable Set of Rules for Businesses and Investors in the Crypto Industry. The Bill Seeks to Resolve Confusion, Encourage New Ideas, and Foster Responsible Expansion in the Sector.
Also Read This: US House Committees Plan to Hold Hearings Together to Discuss Digital Asset Regulations
Gillibrand Emphasizes the Importance of a Careful Approach. The Updated Bill Will Offer Clear Instructions on How to Obtain Tokens, Creating a Complete Framework that Covers Different Aspects of Tokenization.
The proposed law is expected to introduce a ban on algorithmic stablecoins across the board. However, more discussions are needed to decide which organizations are allowed to create stablecoins and the rules for holding reserves in US dollars.
Also Read This: US House Committee Releases Draft of New Stablecoin Bill
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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