Crypto-supportive Republican policymakers Patrick McHenry and Cynthia Lummis provided the latest updates on digital asset legislation at Consensus 2023 – and they’re highly optimistic.
The legislation – co-authored alongside fellow Senator Kirsten Gillibrand – is designed to bring regulatory clarity across many areas of the digital asset industry, including the classification of cryptocurrencies as either securities or commodities. Over the next two months, the group plans to produce a bill that creates a framework for digital assets to evolve from securities into commodities, and which creates room for some assets not to fit neatly into those categories.
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