Senators Gillibrand and Lummis release long-awaited cryptocurrency bill
US Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) unveiled the full version of their long-awaited crypto regulation bill on Tuesday.
Among many proposals, the legislation impels digital asset firms to make disclosures so users can make informed decisions, according to The Washington Post. It also defines which US regulators are responsible for which digital assets and requires a study on crypto’s energy consumption.
Last month, The Block obtained a draft version of the bill that offered key details about its scope and impact.
Lummis joined forces with Gillibrand in March when the two teased they were collaborating on the forthcoming bill. Lummis, a staunch conservative and ally of Donald Trump, faced an uphill battle getting Democratic support for the bill.
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Author: Kollen Post and Andrew Rummer
