US Senator Cynthia Lummis to Present Crypto Regulation Bill

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US Senator Cynthia Lummis plans to introduce legislation in 2022 to provide clarity on crypto regulation, Bloomberg reports.

The document has been described as “comprehensive.” It is planned to include a number of issues in it – from taxation to consumer protection.

Lummis has told Bloomberg that the bill, if it is eventually passed, would provide government agencies with clear guidance on market control. The document will reportedly clarify the classification of digital assets and introduce rules for stablecoin issuers.

The initiative also envisions the creation of a supervisory agency responsible for market regulation, which will be under the control of the SEC and the CFTC.

Lummis has also urged her Twitter followers to appeal to Senators to support the bill. She has also noted she is looking for co-authors who are ready to join the work on the document.

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