Cynthia Lummis is a US Senator from Wyoming. She has been known for her support for the crypto industry, as a government official. She also personally invests in Bitcoin & also suggests people have Bitcoin for retirement saving funds.
On 7 June 2023, Cynthia Lummis shared her opinion over the United States Securities & Commission (SEC)’s crypto regulatory approach, following SEC’s back to back 2 lawsuits against two American crypto exchanges, namely Coinbase & BinanceUS.
Cynthia said that the American securities regulator failed to provide a systematic path for the crypto firms to get registered with the corresponding regulatory bodies and the worst thing in which the SEC body failed is its failure of providing legal guidance for the crypto businesses to follow.
Further, she said that the SEC agency harmed crypto Investors with its enforced regulatory approach. The US senator also said that if any agency wants to protect consumers then that body is required to release a set of regulatory guidelines, so that businesses can follow.
Cynthia acknowledged her crypto regulatory bill “Lummis-Gillibrand Responsible Financial Innovation Act”. She said that Congress needed to support & give approval for her crypto bill to fix this environment.
Earlier this, Cynthia passed several crypto-friendly statements, to keep crypto investors’ hope alive. Many times, she said that crypto will stay in America under proper laws & rules.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.