The major bipartisan crypto bill led by U.S. Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) will most likely be deferred to next year according to the duo.
Speaking during Bloomberg’s Crypto Summit on July 19, the Senators stated that there is a slim chance that the comprehensive bill would be pushed through the Senate this year, with Lummis noting that:
“I think both Kirsten and I believe that the bill, in one piece, as a total bill is more likely to be deferred until next year. It's a big topic, it's comprehensive, and it's still new to many U.S. Senators and so it's a lot for them to digest in the few remaining weeks we have in this calendar year.”
The Responsible Financial Innovation Act was introduced in the U.S. Senate on June 6 and aims to address the role of the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) when it comes to crypto regulation, along with stablecoin regulation, banking, tax treatment of digital...
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