{"id":5553,"date":"2023-06-11T11:56:49","date_gmt":"2023-06-11T15:56:49","guid":{"rendered":"http:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/"},"modified":"2023-06-11T11:56:49","modified_gmt":"2023-06-11T15:56:49","slug":"us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/","title":{"rendered":"US senator revamps efforts for crypto regulations amid SEC lawsuits"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-06\/44d7e481-d9b0-4482-b29f-fe5fb6b64bbe.jpg\" \/><\/noscript><\/p>\n<div data-v-0c8d7d80=\"\">\n<p>United States Senator Cynthia Lummis has said her efforts to push for a positive crypto regulatory framework are still in motion, with the rapid evolution and increasing adoption of cryptocurrencies\u00a0adding to its urgency.<\/p>\n<p>Lummis received praise from Crypto Twitter as she shared her commitment to developing a regulatory framework to facilitate digital asset ownership and trading within the United States. Her tweet serves as a reminder of the anticipated bill that was supposed to be released in April. <\/p>\n<p>In collaboration with Senator Kirsten Gillibrand, Lummis has been engaged in a bipartisan initiative to propose extensive regulations\u00a0for cryptocurrencies. The upcoming legislative effort is anticipated to make significant progress in Congress this year, providing a crucial framework for the rapidly evolving digital asset industry.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We successfully prevented @POTUS' 30% digital asset mining tax from being included in the debt ceiling deal but the fight is far from over.<\/p>\n<p>I am working on a regulatory framework that will allow individuals and companies to own and trade digital assets in America.<\/p>\n<p>Stay tuned&#8230;<\/p>\n<p>\u2014 Senator Cynthia Lummis (@SenLummis) June 10, 2023<\/p><\/blockquote>\n<p>In her tweet, the lawmaker highlighted her party\u2019s success in preventing the inclusion of a 30% digital asset mining tax in the recent debt ceiling deal. Lummis emphasized that the battle to establish a transparent regulatory framework for the crypto industry is far from concluded.<\/p>\n<p>The proposed bill aims to achieve several objectives, including clearly defining cryptocurrencies and potentially removing the \u201csecurity\u201d designation. By establishing a precise classification for tokens, the legislation seeks to create a stable framework for businesses and investors in the crypto industry. The effort will address regulatory uncertainties, stimulate innovation and promote responsible growth within the sector.<\/p>\n<p><strong>Related: <\/strong><strong>The US will find the \u2018right outcome\u2019 for crypto, eventually \u2014 Coinbase CEO<\/strong><\/p>\n<p>Gillibrand has stressed the significance of a meticulous approach. The revised bill will provide explicit guidelines on the procedures necessary to acquire tokens, establishing a comprehensive framework that encompasses various aspects of tokenization.<\/p>\n<p>The proposed legislation will supposedly impose a universal ban on algorithmic stablecoins. However,\u00a0further deliberations are necessary to determine the entities authorized to issue stablecoins and the requirements for maintaining U.S. dollar reserves.<\/p>\n<p><strong>Magazine: <\/strong><strong>Crypto regulation: Does SEC Chair Gary Gensler have the final say?<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/u-s-senator-lummis-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>United States Senator Cynthia Lummis has said her efforts to push for a positive crypto regulatory framework are still in motion, with the rapid evolution and increasing adoption of cryptocurrencies\u00a0adding to its urgency. Lummis received praise from Crypto Twitter as she shared her commitment to developing a regulatory framework to facilitate digital asset ownership and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US senator revamps efforts for crypto regulations amid SEC lawsuits - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US senator revamps efforts for crypto regulations amid SEC lawsuits\" \/>\n<meta property=\"og:description\" content=\"United States Senator Cynthia Lummis has said her efforts to push for a positive crypto regulatory framework are still in motion, with the rapid evolution and increasing adoption of cryptocurrencies\u00a0adding to its urgency. Lummis received praise from Crypto Twitter as she shared her commitment to developing a regulatory framework to facilitate digital asset ownership and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/\" \/>\n<meta property=\"og:site_name\" content=\"Leading Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-11T15:56:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/leadingcryptonews.com\/wp-content\/uploads\/2023\/06\/US-senator-revamps-efforts-for-crypto-regulations-amid-SEC-lawsuits.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"LCN-Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"LCN-Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/\"},\"author\":{\"name\":\"LCN-Admin\",\"@id\":\"https:\/\/leadingcryptonews.com\/#\/schema\/person\/a303f33566761f963a7c3c0cde394e30\"},\"headline\":\"US senator revamps efforts for crypto regulations amid SEC lawsuits\",\"datePublished\":\"2023-06-11T15:56:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/\"},\"wordCount\":382,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/leadingcryptonews.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/leadingcryptonews.com\/wp-content\/uploads\/2023\/06\/US-senator-revamps-efforts-for-crypto-regulations-amid-SEC-lawsuits.jpg\",\"articleSection\":[\"Bitcoin\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/\",\"url\":\"https:\/\/leadingcryptonews.com\/us-senator-revamps-efforts-for-crypto-regulations-amid-sec-lawsuits\/\",\"name\":\"US senator revamps efforts for crypto regulations amid SEC lawsuits - 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