Lummis to Propose New Crypto Regulator, Clear Guidance in 2022 Bill

Lummis to Propose New Crypto Regulator, Clear Guidance in 2022 Bill
U.S. Sen. Cynthia Lummis (R-Wyo.), one of Bitcoin’s most vocal advocates on Capitol Hill, will pitch Congress next year on creating a crypto regulatory body as part of her sweeping digital asset policy bill, a senior aide told CoinDesk.Lummis, who sits on the Senate Banking committee, wants nothing short of full normalization for digital assets in the U.S., the aide said. Her upcoming bill will propose doing just that with federal rules for stablecoins, consumer protection provisions and updated taxation guidance, as well as a new watchdog: a self-regulatory organization administered by the executive branch’s securities and swaps regulators.Many of…