Senator Cynthia Lummis Says Her Bill To Integrate Crypto Into Financial Systems Is Almost Ready

US senator, Senator Cynthia Lummis, has stated that her long-deliberated bill to fully integrate crypto and digital assets into the US financial system is almost finished and will be unveiled shortly in light of President Biden’s recent announcement that he will sign an executive order on ensuring responsible development of digital assets. Senator Cynthia Lummis is a Wyoming Republican Senator where cryptocurrencies have been taking a stand in recent years. The least populous state in the United State already has 13 blockchain laws regarding the use and legalization of cryptocurrencies. She has been one of the most prominent advocates for the integration of cryptocurrency into the United States’ financial system, and is one of many who refer to Bitcoin as “digital gold.” Although little specifics about the bill have been revealed thus far, it is likely to significantly alter the way cryptocurrencies are regarded and classified across all federal agencies by offering consumer protections, stablecoin regulation, and the establishment of a regulatory organization to oversee the digital asset market. Executive Order and Crypto regulation in the US. The growth in the value of digital assets in recent years is seen by the United States government as an opportunity to strengthen the country’s position as a leader in the global financial system and at the technological frontier. This is the main reason why President Biden intends to i...