Cynthia Lummis – Page 2

US Congress Members Clash on the Potential Effect of Proposed Tax Rules on the Crypto Industry

August 30, 2023

Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted differently to the potential effects of these proposals on decentralized finance platforms and stablecoins. U.S. Congress Members Concerned Over New Tax…
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US Lawmakers Call on Congress to Pass Crypto Law Following SEC v Ripple Ruling on XRP

July 16, 2023

Several U.S. lawmakers have called on Congress to pass crypto legislation following the court ruling on the U.S. Securities and Exchange Commission (SEC) v. Ripple case regarding XRP. “Gary Gensler’s SEC cannot continue to pursue its regulation by enforcement approach, which only harms investors and creates uncertainty,” said one lawmaker. US Lawmakers Call on Congress…
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US Senators Cynthia Lummis and Kirsten Gillibrand Propose Legislation to Regulate Digital Assets

July 12, 2023

US Senators Cynthia Lummis and Kirsten Gillibrand are set to propose a new bill today to regulate cryptocurrencies and other digital assets in the country. Lummis and Kristen will reintroduce their Responsible Financial Innovation Act amid the ongoing debate about the future of digital asset regulation. The latest digital assets bill will aim to classify…
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Founder of SEC Office of Internet Enforcement Warns of Upcoming Regulatory Siege: ‘Get Out of Crypto Platforms Now’

June 10, 2023

John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous, and inherently unsafe” and recommends investors exit all crypto exchanges. Former SEC Enforcement Chief…
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Ripple CEO Brad Garlinghouse: ‘The SEC Is Throwing Lawsuits at the Wall’

June 9, 2023

Brad Garlinghouse, the CEO of Ripple, has criticized the crypto “pro-innovation” stance of the U.S. Securities and Exchange Commission (SEC) and its recent lawsuits against significant exchanges like Coinbase and Binance. Garlinghouse stated that the SEC was “throwing lawsuits at the wall” to distract attention from the debacle of bankrupted exchange FTX. Ripple CEO Brad…
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US Senator Cynthia Lummis Blasts SEC Actions Against Coinbase, Explains Crypto Industry Is Being Pushed Offshore

June 8, 2023

Wyoming U.S. Senator Cynthia Lummis has heavily criticized the recent legal action of the Securities and Exchange Commission (SEC) against Coinbase, stating that it might push the cryptocurrency industry and its innovation offshore. Lummis also remarked that the SEC has failed to streamline a path for cryptocurrency companies like Coinbase to regularize their operations. U.S.…
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Is Biden’s controversial Bitcoin mining tax dead or set to rise from the ashes?

June 3, 2023

References to the tax were removed from the U.S. debt bill, but that doesn’t mean it’s gone for good. Bitcoin (BTC) miners in the United States can breathe a sigh of relief after a proposed tax on crypto mining did not make it into a bill to raise the U.S. debt ceiling that appears set…
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Bitcoin cleans up the environment and helps catch criminals: US Senator Cynthia Lummis

May 21, 2023

U.S. Senator Cynthia Lummis joined Chamber of Digital Commerce CEO Perianne Boring on stage at Bitcoin 2023 in Miami for a lengthy discussion on regulation. United States Republican Senator Cynthia Lummis of Wyoming held a fireside chat with the founder and CEO of the Chamber of Digital Commerce, Perianne Boring, during the Bitcoin 2023 event in…
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President Biden’s Crypto Mining Tax “Isn’t Going To Happen,” Sen. Lummis Says

May 20, 2023

US Sen. Cynthia Lummis is not a fan of President Biden’s proposed 30 percent tax on cryptocurrency miners. “That isn’t going to happen,” the Wyoming Republican and crypto enthusiast, said on Friday at Bitcoin 2023 Conference in Miami. There are environmental benefits including “not venting gases into the atmosphere as well as stabilizing grids,” Lummis…
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Bank Execs Face Senate Ire for Blaming Bank Collapse on Crypto While Amassing Millions

May 17, 2023

US Senators have slammed executives of failed banks for trying to deflect blame away from their poor management practices and toward digital asset firms. During a Tuesday Senate Banking Committee hearing, Senator Cynthia Lummis lashed out at Scott Shay, the former chairman of now-collapsed Signature Bank, for his statement regarding what led to his bank’s collapse. … Read…
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