(Bloomberg) Republican Senator Cynthia Lummis seeks to introduce a comprehensive bill to the US House next year on cryptocurrencies.
The proposed law aims to cover cryptocurrencies issues, including clarification on taxation, categorization, and investor protection.
Lummis’s law also proposes a new organization that will oversee the cryptocurrency sector.
The Senator revealed in October that she bought Bitcoins worth $50,0001 to $100,000 earlier in the year. If the Lummis bill becomes law, it will offer clarity in the crypto industry. Her Wyoming website also allows Bitcoin donations through Bitpay.
It now remains to be seen if Lummis proposed bill would become law in the face of a Senate divided on the issue of crypto regulation.
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