Bill to integrate crypto in the financial system is ready: Cynthia Lummis
Crypto-friendly US senator confirmed her work on a bill to make a better ecosystem for the crypto industry under the collaborative approach of the existing traditional financial system.
Cynthia Lummis is a crypto-friendly Democratic Senator of the US from Wyoming. For the last few years, Cynthia has supported the crypto industry and Bitcoin as a priority among the government official discussion. She contributed enough to this crypto Industry. A recent example is the controversial $1 Trillion US infrastructure bill, in which Cynthia worked to fix the issues and points, which were against crypto industry.
On 9 March, Cynthia Lummis notified her Twitter followers that her bill on crypto is almost ready, which was under development for a long time. Right now she is working to give a final touch to the bill and also the bill aimed to introduce better policies for crypto in association with the financial system.
On this information from Cynthia on the new bill, she faced some criticism as well as huge appreciation for such works. On all these things she accepted everything and ensured that bill will give clarity on rules, not on lawmakers.
“Thanks to all who have commented, clarified, and critiqued the early drafts of the bill. Strong collaboration as we move to reach consensus. Defining rules, not rulers. Stay tuned, very soon.”
Through this statement, Cynthia confirmed that the bill aimed to provide a better level of clarity on legality & rules on the crypto industry. And probably it will further boost the inflow of financial institutions’ investment in this industry.
In the past, Cynthia always passed comments in favour of crypto and always stated confidently that “crypto is here to stay”. In the past month, she advised the Federal agency to add Bitcoin to their balance sheet. In the past she suggested people to have bitcoin in the retirement funds.
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