Senator cynthia lummis outlines forthcoming bipartisan bitcoin bill

SENATOR CYNTHIA LUMMIS OUTLINES FORTHCOMING BIPARTISAN BITCOIN BILL

  • Marco Santori and Cynthia Lummis had a fireside chat at the Bitcoin 2022 conference to discuss evolving legislation on Bitcoin that Lummis has been working on.
  • Lummis was joined by Marco Santori, a digital asset scholar among lawyers and serves as chief legal officer for Kraken, a cryptocurrency exchange.
  • Lummis also shared perspective on how politicians view the potential of a Federal Reserve central bank digital currency (CBDC).

During Bitcoin 2022, U.S. Senator Cynthia Lummis offered details on a bipartisan bill, The Responsible Financial Innovation Act, that she hopes will establish favorable Bitcoin regulation during a fireside chat with Marco Santori, the chief legal officer of Kraken.

“It’s truly a legislative framework that we hope will provide the sandbox for innovation to occur but also put some regulatory parameters, so you all know the rules of the road,” Lummis explained. “It includes privacy components, consumer protection components, taxation components…”

There becomes an obvious burden as nation states recognize the success of Bitcoin and attempt to apply existing regulations to govern its use or create new laws to do so. In the U.S., Lummis shared that she sees legislators becoming increasingly open to the idea of passing favorable rules catered to Bitcoin that would foster innovation in the country.

All this needs to happen in the USA otherwise we get left behind in the tech industry!!!

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