As indicated by Lummins, the creation of this bill proposes to address many things associated with digital currencies, which range from the tax part, through the classification of cryptocurrencies, to reaching guarantees for consumers.
The Republican US senator for the state of Wyoming, Cynthia Lummins, communicated through her social networks that a bill she is working on is almost ready, the approval of which would enable the integration of cryptocurrencies into the financial system.
Lummins prepares his bill
Lummins’ announcement came moments after US President Joe Biden today signed the long-awaited executive order that will set the tone for the government to follow towards cryptocurrencies. In the senator’s case, the bill she plans to present to the Senate of the USA would give much more specific criteria so that cryptocurrencies can see greater usability within traditional sectors.
In this regard, in the message published through his Twitter account, Lummins commented:
“It’s been a long time coming, but my bill to fully integrate digital assets into our financial system is almost ready! I’m putting the finishing touches on it with some key consultants and partners in the Senate, but look forward to their reveal soon!”
It’s been a long time coming, but my bill to fully integrate digital assets into our financial system is almost ready! I’m putting the final touches on it with some key advocates and partners in the Senate, but watch out for an unveiling soon! pic.twitter.com/gpHh2JVgKd
— Senator Cynthia Lummis (@SenLummis) March 9, 2022
Those who follow Lummins know that the senator has been one of the most active voices in favor of cryptocurrencies in the US Senate, so her bill could well offer viable alternatives that do not ignore the opinion of representatives and participants in the cryptocurrency sector.
The senator’s publication had many positive reactions from enthusiasts and followers, who were encouraged to share some suggestions and points to consider. What was surprising is that Lummins responded to some of these indicating that such remarks had been covered, and congratulated the strong collaboration seen among all those who have been aware of their efforts, reminding them that their long-awaited bill will be ready very soon.
Let us bear in mind that the senator reported in December of last year her plans for the creation of a comprehensive legal framework that would address everything, from the tax part, through the classification of cryptocurrencies, to guarantees for all consumers and others. additional aspects.
Comments on the executive order
In addition to making the aforementioned announcement, Lummins also presented at the time some opinions and considerations about the executive order that President Biden recently signed.
In this regard, Lummins commented:
“I think the executive order overlooks the fact that the vast majority of cryptocurrency users are law-abiding and trying to improve our financial system. If in doubt, you should look to Wyoming, where digital assets are booming within a balanced and common sense regulatory framework.”
Let us bear in mind that the executive order approved by President Biden contemplates six points of special priority:
- Protecting US consumers, investors and businesses
- Protect U.S. and global financial stability
- Mitigate Illicit Finance and National Security Risks
- Promote US leadership in technology and economic competitiveness
- Promote equitable access to safe and affordable financial services
- Support technological advances
Source: Finbold, Twitter
Angel Di Matteo version / DailyBitcoin
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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.