Bitcoin (BTC) advocate Senator Cynthia Lummis plans to introduce a detailed bill on Bitcoin and cryptoassets next year.
Lummis’ bill aims to create a new regulatory body to oversee the crypto market while providing guidelines for classifying digital assets. Lummis has started work on a detailed crypto bill, from classification to taxation.
The deputy senator told Bloomberg that if the law goes into effect, it will provide regulators with guidance on digital assets, while also providing protection for consumers.
https://twitter. com/CynthiaMLummis/status/1474045993289195528
Bitcoin has continued to attract the attention of regulators since its inception. However, regulators were unsure of what to do with the leading crypto.
Senator Lummis is known for his candor on Bitcoin and its benefits. In addition, Lummis believes that Bitcoin should be evaluated differently from other cryptocurrencies.
Lummis criticized his colleagues’ $480 billion debt limit increase last month and said that Bitcoin was a gift from God in these irresponsible policies.