Cynthia Lummis, the Republican Senator from Wyoming, joined CoinDesk to debate a number of essential matters about crypto with, after all, one being the subject that nobody can keep away from at this level, which is Sam Bankman-Fried and the FTX collapse however the different matter of significance is regulation. Senator Lummis is on the forefront of politicians on Capitol Hill making a push for cryptocurrency regulation, as one of many Senators sponsoring one of many extra essential items of bipartisan crypto laws, the Accountable Monetary Innovation Act, together with Senator Kirsten Gillbrand, Democrat from New York. The invoice, which was launched in June, if it passes, would give the Commodity Futures Buying and selling Fee (CFTC) the primary energy to set regulatory requirements for crypto. Senator Lummis acknowledged that among the many targets of the invoice is clearly defining what may be deemed a safety or a commodity. Senator Lummis weighed in on the present state of crypto tokens, suggesting that as of now, Bitcoin appears to be like like the one coin to be thought of a commodity. Ethereum, the second-largest cryptocurrency by market capitalization, made main headlines within the early fall of 2022, when it made the transition from proof-of-work to proof-of-stake. In Senator Lummis’s estimation, this transfer very nicely might need taken Ethereum out of the working for being thought of a commodity.
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“It’s Beginning To Look Extra Like Bitcoin ONLY”
