Crypto rules of the road framework unveiled by Republican senators
Senator Tim Scott (R-SC) speaks on the stage on the first day of the Republican National Convention at the Fiserv forum on July 15, 2024 at Wisconsin, Milwaukee.
Chip somodevilla | Getty Images
The two Republican senators plan to issue a framework on Tuesday for a major bill of law that will determine the rules of the road for digital assets.
From Wyoming, who chaired the digital asset committee of the panel, Senate Banking President Tim Scott and Sen. You. According to the frame introduced by Cynthia Lummis, when Crypto has an commodity or security, crypto changes will allow the SEC to register with the digital currency commission and allow crypto changes to reduce digital currencies.
Also Sens. Thom Tillis, R-NC and Bill Hagerty, R-Tenn.
Putting the legislation, the proposed bill “money laundering and sanctions to prevent the avoidance of a small, discreet prevention package” will include, he says.
“These principles will serve as an important basis for the negotiations of this bill,” Scott said in a statement to CNBC. He said. “I hope that my colleagues will put aside politics aside and provide clarity for a long time for the regulation of digital assets.”
Scott wants to build a bilateral momentum around the crypto where an invoice in Stablecoins passed the Senate last week. 18 Democrats participated in almost all Republicans to support the bill.
Lummis, who entered the Senate floor after the vote, said that the bill was “only the first step” and urged MPs to finish the more complex market structure this year.
A home version of the market structure legislation was approved by two committees this month – the Committee of Financial Services that controls the SEC and the Agricultural Committee that controls the CFTC.
President Donald Trump said that in Social, the Assembly should move “Lightning quickly” on the senate’s stablecoin bill, while R-Bark, House Financial Services President French Hill. He refrained from answering questions about whether the Assembly would receive a different stablecoin bill of the Assembly.
The digital assets sub -committee of the Senate Banking Committee will hold a hearing on the next bill at 15:00.
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