• Market Cap: $3,917,448,153,165.22
  • 24h Vol: $246,439,824,053.32
  • BTC Dominance: 60.41%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Lummis-Gillibrand crypto bill likely deferred to next year

Jon Hartney by Jon Hartney
July 20, 2022
in Bitcoin, Blockchain, Business, Market
0
Lummis-Gillibrand crypto bill likely deferred to next year
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Senator Cynthia Lummis said that non-crypto-versed Senators will need some time to understand and digest the proposals.

The major bipartisan crypto bill led by U.S. Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) will most likely be deferred to next year according to the duo.

Speaking during Bloomberg’s Crypto Summit on July 19, the Senators stated that there is a slim chance that the comprehensive bill would be pushed through the Senate this year, with Lummis noting that:

Related articles

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

July 17, 2025
Memecoin market cap grows 29% in July

Memecoin market cap grows 29% in July

July 17, 2025

“I think both Kirsten and I believe that the bill, in one piece, as a total bill is more likely to be deferred until next year. It’s a big topic, it’s comprehensive, and it’s still new to many U.S. Senators and so it’s a lot for them to digest in the few remaining weeks we have in this calendar year.”

The Responsible Financial Innovation Act was introduced in the U.S. Senate on June 6 and aims to address the role of the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) when it comes to crypto regulation, along with stablecoin regulation, banking, tax treatment of digital assets and interagency coordination.

The pair however noted that there may be specific areas of their bill that could make it through this year via other legislation, with Gillibrand highlighting that fellow Democrat Senator Debbie Stabenow and Republican ranking member John Boozman are working on a bill proposing the CFTC as the key regulator for crypto.

The bill rolls in certain parts from the Lummis/Gillibrand legislation in relation to most digital assets being classified as commodities, and therefore falling under CFTC jurisdiction.

Lummis also noted that the part of their bill focused on the regulation of stablecoins issued by financial institutions could also be rolled into another bill from the banking committee and voted on this year.

The senators noted that they have seen a relatively positive response to the bill from both sides of the political spectrum.

“There seems to be some serious common ground forming, and just as Senator Lummis said, the two committees that have the most focused Senators on this topic are banking and agg [agriculture],” Gillibrand said, adding that there’s also been some focus from the finance committee as “Senator Wyden and his committee wrote a good part of the tax provisions in our bill.”

Related: CFTC labels 34 crypto and forex firms as unregistered foreign entities

While the duo accept that their comprehensive crypto bill will take time to get the proper attention before it gets voted on next year, Gillibrand emphasized that fellow Senators, regulators and lawmakers are beginning to realize the urgent need to at least get consumer protections in place:

“There’s additional interest now, because they’ve seen that this is something important to do, that consumers are not being protected today, there’s no oversight or accountability, and there’s no rules of the road.”

“So there’s more urgency now, and also more of a sense that this is something we need to do,” she added.

The comments were made in reference to the recent bankruptcy proceedings from crypto lending firms such as Celsius and Voyager in which users have been put at severe risk of losing their deposited assets on those platforms.

Lummis also pointed to the $40 billion Terra ecosystem collapse in May, and the risky nature of algorithmic stablecoins which require further oversight.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

by Jon Hartney
July 17, 2025
0

Bitcoin dominance charts moving downward may be a signal that the

Memecoin market cap grows 29% in July

Memecoin market cap grows 29% in July

by Jon Hartney
July 17, 2025
0

Memecoin market cap hits $72B in July, driven by the Bonk memecoin’s 72%

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

by Jon Hartney
July 17, 2025
0

After rising rapidly over the weekend to hit new all-time highs, the Bitcoin price seems to have hit a brick...

Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

by Jon Hartney
July 17, 2025
0

Bilal Bin Saqib met El Salvador’s President Nayib Bukele to discuss Bitcoin

World Liberty Financial Token Proposal Garners Massive 99% Support

World Liberty Financial Token Proposal Garners Massive 99% Support

by Jon Hartney
July 17, 2025
0

Holders of the World Liberty Financial token, WLFI, have voted overwhelmingly to make these tokens tradable, a decision that could...

Load More
  • Trending
  • Comments
  • Latest
SUI Price Hits All-Time High – But Questions About Valuation Remain

SUI Price Hits All-Time High – But Questions About Valuation Remain

October 17, 2024
Solana Targets $160 Resistance As TVL Hits New Yearly Highs

Solana Targets $160 Resistance As TVL Hits New Yearly Highs

October 17, 2024
Bitcoin Price Holds Firm: Can It Power Toward New Gains?

Bitcoin Price Holds Firm: Can It Power Toward New Gains?

October 17, 2024
Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

October 17, 2024
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

July 17, 2025
Memecoin market cap grows 29% in July

Memecoin market cap grows 29% in July

July 17, 2025
Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

July 17, 2025
Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

July 17, 2025

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • 3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows July 17, 2025
  • Memecoin market cap grows 29% in July July 17, 2025
  • Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops July 17, 2025
  • Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy July 17, 2025
  • World Liberty Financial Token Proposal Garners Massive 99% Support July 17, 2025

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • Steakhouse EURCV Morpho VaultSteakhouse EURCV Morpho Vault(STEAKEURCV)$0.000000-100.00%
  • FibSwap DEXFibSwap DEX(FIBO)$0.0084659.90%
  • TruFin Staked APTTruFin Staked APT(TRUAPT)$8.020.00%
  • bitcoinBitcoin(BTC)$84,372.003.58%
  • ethereumEthereum(ETH)$1,885.365.68%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.186.84%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • binancecoinBNB(BNB)$617.995.03%
  • Wrapped SOLWrapped SOL(SOL)$143.66-2.32%
  • solanaSolana(SOL)$128.974.23%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.1736117.78%
  • cardanoCardano(ADA)$0.687.61%
  • tronTRON(TRX)$0.2342340.79%
  • staked-etherLido Staked Ether(STETH)$1,884.065.48%
  • Gaj FinanceGaj Finance(GAJ)$0.0059271.46%
  • Content BitcoinContent Bitcoin(CTB)$24.482.55%
  • USD OneUSD One(USD1)$1.000.11%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$84,309.003.84%
  • ToncoinToncoin(TON)$4.157.66%
  • UGOLD Inc.UGOLD Inc.(UGOLD)$3,042.460.08%
  • ParkcoinParkcoin(KPK)$1.101.76%
  • chainlinkChainlink(LINK)$14.027.76%
  • leo-tokenLEO Token(LEO)$9.211.17%
  • stellarStellar(XLM)$0.2743585.70%
  • avalanche-2Avalanche(AVAX)$19.647.71%
  • Wrapped stETHWrapped stETH(WSTETH)$2,256.395.40%
  • USDSUSDS(USDS)$1.00-0.01%
  • SuiSui(SUI)$2.429.03%
  • shiba-inuShiba Inu(SHIB)$0.0000137.71%
  • hedera-hashgraphHedera(HBAR)$0.17284810.00%
  • Yay StakeStone EtherYay StakeStone Ether(YAYSTONE)$2,671.07-2.84%
  • polkadotPolkadot(DOT)$4.257.34%
  • litecoinLitecoin(LTC)$85.265.04%
  • bitcoin-cashBitcoin Cash(BCH)$314.248.23%
  • mantra-daoMANTRA(OM)$6.301.94%
  • Pundi AIFXPundi AIFX(PUNDIAI)$16.000.00%
  • PengPeng(PENG)$0.60-13.59%
  • Bitget TokenBitget Token(BGB)$4.664.95%
  • wethWETH(WETH)$1,884.285.66%
  • Ethena USDeEthena USDe(USDE)$1.00-0.04%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.00-0.18%
  • MurasakiMurasaki(MURA)$4.23-13.71%
  • Black PhoenixBlack Phoenix(BPX)$3.351,000.00%
  • Pi NetworkPi Network(PI)$0.714.53%
  • HyperliquidHyperliquid(HYPE)$13.729.80%
  • Wrapped eETHWrapped eETH(WEETH)$2,003.675.53%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$28.350.76%
  • moneroMonero(XMR)$217.841.31%
  • Zypto TokenZypto Token(ZYPTO)$0.037139-3.47%
  • uniswapUniswap(UNI)$6.217.66%
  • AptosAptos(APT)$5.395.79%
  • PepePepe(PEPE)$0.00000811.37%
  • daiDai(DAI)$1.00-0.01%
  • nearNEAR Protocol(NEAR)$2.635.26%
  • XT.comXT.com(XT)$3.08-1.65%
  • Layer One XLayer One X(L1X)$23.35454.66%
  • sUSDSsUSDS(SUSDS)$1.050.05%
  • okbOKB(OKB)$48.762.12%
  • gatechain-tokenGate(GT)$22.883.58%
  • crypto-com-chainCronos(CRO)$0.1015853.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$84,342.003.68%
  • MantleMantle(MNT)$0.814.44%
  • Tokenize XchangeTokenize Xchange(TKX)$33.460.86%
  • internet-computerInternet Computer(ICP)$5.517.85%
  • ethereum-classicEthereum Classic(ETC)$17.074.81%
  • OndoOndo(ONDO)$0.817.47%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.12%
  • aaveAave(AAVE)$168.6110.19%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.170.30%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • Official TrumpOfficial Trump(TRUMP)$10.354.36%
  • vechainVeChain(VET)$0.0233636.04%
  • cosmosCosmos Hub(ATOM)$4.538.09%
  • fantomFantom(FTM)$0.70-1.56%
  • BittensorBittensor(TAO)$231.277.72%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • EthenaEthena(ENA)$0.3616194.37%
  • render-tokenRender(RENDER)$3.6710.91%
  • filecoinFilecoin(FIL)$2.927.72%
  • CelestiaCelestia(TIA)$3.181.75%
  • Black AgnusBlack Agnus(FTW)$0.000183423.46%
  • Lombard Staked BTCLombard Staked BTC(LBTC)$84,465.004.02%
  • POL (ex-MATIC)POL (ex-MATIC)(POL)$0.2063993.13%
  • KaspaKaspa(KAS)$0.0682239.38%
  • STAUSTAU(STAU)$0.17397910.95%
  • FasttokenFasttoken(FTN)$4.020.01%
  • Sonic (prev. FTM)Sonic (prev. FTM)(S)$0.5212.98%
  • algorandAlgorand(ALGO)$0.1896979.65%
  • ORA CoinORA Coin(ORA)$4.885.92%
  • ArbitrumArbitrum(ARB)$0.3397526.22%
  • Arbitrum Bridged USDT (Arbitrum)Arbitrum Bridged USDT (Arbitrum)(USDT)$1.000.07%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • kucoin-sharesKuCoin(KCS)$11.231.19%
  • Solv Protocol SolvBTCSolv Protocol SolvBTC(SOLVBTC)$84,076.003.32%
  • fetch-aiArtificial Superintelligence Alliance(FET)$0.4856098.68%
  • optimismOptimism(OP)$0.776.43%
  • StoryStory(IP)$4.75-2.68%