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Sen. Lummis Urges Swift Passage of Crypto Framework as House Advances GENIUS-CLARITY Package
Sen. Lummis Urges Swift Passage of Crypto Framework as House Advances GENIUS-CLARITY Package
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BTCCSquare news:
Senator Cynthia Lummis emphasized the urgent need for crypto market structure legislation during a Senate Banking Committee hearing, stating the U.S. is already behind schedule. The committee is developing principles to guide future regulations, aiming to end the SEC's contentious "regulation by enforcement" approach that has burdened firms with legal costs and uncertainty.
The Senate's framework seeks to provide clarity for digital asset companies operating in a regulatory gray area. Meanwhile, the House of Representatives is progressing with its own GENIUS-CLARITY legislative package, setting the stage for potential compromise between chambers.
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