Two U.S. Senators Release New Cryptocurrency Bill

ChainCatcher News, U.S. Senators Sens. Cynthia Lummis and Kirsten Gillibrand have released a new version of the cryptocurrency bill, which features bipartisan cooperation, unlike the House bill.

The bill addresses nearly all key issues, including a broad definition of digital asset commodities, which will place most regulatory responsibilities under the Commodity Futures Trading Commission rather than the Securities and Exchange Commission; tax incentives for transactions below $200; clear regulatory provisions for payment stablecoin issuers; and funding for the Commodity Futures Trading Commission and other agencies to implement these policies.

Due to the bill's involvement with multiple committees, it is highly unlikely to be considered in its complete and current form, or to have parts of it added to other must-pass legislative work.