“The work we’re doing is going to be a very complex and intensive review of the different aspects of this industry,” said the senator. crypto cryptocurrency bitcoin $BTC
“The work we’re doing is going to be a very complex and intensive review of the different aspects of this industry,” said one of the senators.U.S. Senators Kirsten Gillibrand and Cynthia Lummis are working together on “a broad-based regulatory framework” for how the crypto industry should be regulated, they explained Thursday at aThe work we’re doing is going to be a very complex and intensive review of the different aspects of this industry.
Senator Lummis was asked whether the CFTC will have a greater role under the new crypto framework. She replied: However, the pro-bitcoin senator from Wyoming clarified that since there are currently over 18,000 cryptocurrencies, not all of them are commodities. “So, we’ll still be using the old Howey Test from the 1940s which helps define what’s a security and what’s a commodity.”
In terms of when the bill is expected to be introduced and whether it has any chance of being passed this year, Senator Gillibrand said she and Senator Lummis will continue to work on the bill “over the next several weeks,” adding:
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