Sen. Cynthia Lummis, R-Wyo., said during an Axios virtual event today that she is confident her bipartisan cryptocurrency legislation with Sen. Kirsten Gillibrand, D-N.Y., will allow members of Congress to find “common ground” and a better understanding of digital assets.
The legislation – which the senators are still working on – would create a broad-based regulatory framework for the cryptocurrency industry.
Sen. Lummis said the legislation will be introduced as “one big piece, so people can see the big picture, how the commodities components work with the securities components, with the stable coins, and with a potential CBDC [Central Bank Digital Currency].”
Once the senators introduce the larger piece of legislation, Lummis said they “may break it into five or six distinct parts that will go through different committees.”
“We’ll be working with leadership to help decide how it will be broken out as a bill and have different combinations of Republican and Democrat co-sponsors for the various components of the bill,” Sen. Lummis said. “We hope that we’ll bring in more understanding and buy-in as different committees become more conversant with what…