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- Senator Cynthia Lummis noted that a pro-crypto army is rising in the United States Congress after the recent FIT21 vote.
- This comes after two major bipartisan votes in Congress.
- Crypto users remain delighted as lawmakers back the industry.
Senator Cynthia Lummis highlights the growing support for crypto in Congress, sparking optimism among enthusiasts.
Sen Cynthia Lummis Hails Two Crypto Wins
Sen Cynthia Lummis’s comments come on the back of two major wins for digital assets. Last week, the United States Senate overturned the Gary Gensler-led SEC’s SAB 21 which imposes harsh rules on financial institutions seeking to become crypto custodians.
Anti-Crypto Lawmakers Might Delay Rules
Unlike Sen Lummis, Sen Warren and others have actively criticized crypto calling for stringent regulations. According to Warren, crypto use in financing terror and other illegal financial activities remains high restating efforts to protect consumers.
Conclusion
Senator Cynthia Lummis’s remarks underscore a significant shift in the legislative landscape for crypto assets. While the pro-crypto sentiment is gaining momentum, the future of the FIT21 bill remains uncertain as it faces potential resistance in the Senate. The ongoing debate highlights the need for balanced regulations that foster innovation while ensuring consumer protection.
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