Days after speaking at an event regarding crypto’s benefits, US lawmaker Cynthia Lummis took to social media to announce her support for crypto.
The crypto industry has found a supporter in US lawmaker Cynthia Lummis, who is once again in the news for all the good reasons for crypto. Days back in May, she had spoken about crypto’s benefits at the Bitcoin 2023 event. In the latest development, she tweeted about a recent event regarding crypto and its future regulatory framework.
“I am working on a regulatory framework that will allow individuals and companies to own and trade digital assets in America. Stay tuned,” she said. She also claimed they had prevented the government from taxing the digital asset mining industry at 30% in the latest US debt ceiling deal.
The crypto fraternity has praised Lummis’ efforts while recognizing the need for better crypto regulation at a stage when crypto adoption is increasing rapidly. Moreover, the SEC’s legal battles with major crypto firms in the US have not reflected well on the industry when it has also supported a new regulatory framework wholeheartedly.
The US lawmaker is involved with another Senator, Kirsten Gillibrand, in leading an initiative for a crypto-friendly law that could enhance crypto adoption while also preventing cases of money laundering, scams, and fraud in the sector.
A crypto bill in the US is already in the making that could provide a framework for the crypto industry’s growth. Though discussions have not progressed since the last report, US lawmakers like Lummis could lobby strongly for the bill shortly.