After years of lagging behind global competitors, the US may finally be catching up on crypto policy, according to Senator Cynthia Lummis.
In the latest episode of “Decentralize with Cointelegraph,” the Wyoming senator said recent developments mark a turning point.
Milestones and progress
Senator Lummis pointed out two significant milestones that have recently taken place in the US crypto policy landscape. The first milestone was the passage of the GENIUS Act legislation, which authorizes payment stablecoins and has been signed into law by President Trump. The second milestone is the introduction of the CLARITY Act, which is now under consideration by the Senate.
Senator Lummis, who has been involved in crafting Senate market structure drafts for the past four years, emphasized the bipartisan support that these bills have garnered. She mentioned the importance of listening to feedback, making amendments, and ensuring a bipartisan approach to crypto legislation.
One key aspect of the Senate bill highlighted by Senator Lummis is the emphasis on ancillary assets, which helps determine the classification of assets as securities or commodities.
Crypto and beyond
Senator Lummis also discussed her new AI-focused legislation, the RISE Act, which falls under the jurisdiction of the Commerce Committee. She emphasized the connection between the digital asset world and the AI world, pointing out the importance of liability protections and professional responsibilities in the AI sector.
Addressing crypto builders who may have lost faith in the US regulatory environment, Senator Lummis urged them not to lose hope. She mentioned President Trump’s commitment to making the US a hub for digital assets and reassured that legislation and rules are in the works to support the industry.
For the complete interview with Senator Lummis, listen to the full episode of Byte-Sized Insight on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify. Stay tuned for more insights and updates on Cointelegraph’s lineup of shows!
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