In a significant legislative week, Senator Cynthia Lummis expressed optimism about the United States' evolving stance on cryptocurrency. Following the passage of critical digital asset bills, she reassured developers that “help is on the way.”
Lummis pointed out two major milestones during what she termed “Crypto Week” in Congress. The first was the signing of the GENIUS Act, which authorizes payment stablecoins, and the second was the upcoming consideration of the CLARITY Act by the Senate.
Legislative Progress
“We’ve been crafting and getting feedback… for four years now,” Lummis stated, highlighting the extensive groundwork leading to this progress. She praised the growing bipartisan support, emphasizing their efforts in listening and amending legislation for broader consensus.
Notably, Lummis elaborated on the concept of ancillary assets within the Senate bill, which aims to clarify classifications between securities and commodities. This distinction is crucial as it shapes how various digital assets are regulated moving forward.
Beyond Crypto: AI Legislation
Besides her focus on cryptocurrency, Lummis introduced her new AI-focused legislation called the RISE Act. This bill seeks to establish liability protections and professional responsibilities in AI use within the digital asset landscape. “If part of that information is AI-generated and… false, the professional has a duty to vet it,” she explained.
In light of these developments, Lummis delivered an encouraging message to crypto builders who may have lost hope in the US market: “Don’t lose faith. We’re waking up.” She underscored President Trump’s ambition to position America as the global leader in digital assets, stating, “Help is on the way. Legislation is on the way.”
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As legislation continues to evolve, it’s vital for stakeholders in the crypto ecosystem to stay informed and engaged with these changes. The steps taken by Senator Lummis could signify a transformative period for crypto adoption and regulation in the United States.
