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Senator Cynthia Lummis we’re at an impasse.


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This has been an interesting day. Here’s what is happening: First, we’ve been able to have very productive conversations with senators on all sides of this issue, and if we could vote on amendments I think the digital asset community would be pleased with the outcome. Right now, we need an agreement on allowing amendments, which is being held up because of conflict between senators over the 30-hour rule, which allows the Senate to consider/read/review a bill for up to 30 hours before voting on it.

Some senators want to keep focusing on the infrastructure bill for 30 hours to raise awareness about its price tag. Senator Schumer wants to quickly vote in order to focus on other legislation, and won’t allow amendment votes unless that happens. So we’re at an impasse. I understand my colleagues’ positions. But real people are going to be hurt if we do not change the language in this bill. Tomorrow we’ll be back in session and again work to convince our colleagues and Senator Schumer that our amendment deserves a vote.

Tomorrow at 9am, offices will be back in like usual. Feel free to call your senators to let us know how you think we should move forward.

Taken from Senator Lummis's Twitter feed.


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Taken from Senator Cynthia Lummis Twitter feed:-

I agree with Gary Gensler that we need regulatory certainty for digital asset traders and lenders—but the devil is in the details. Congress WILL weigh in, and both the SEC and CFTC have important roles to play.

It's critical that the CFTC and the SEC engage to provide the digital asset industry w/ more no-action relief and interpretive guidance on the front end.

New laws cannot put the thumb on the scales for a specific digital asset or against the industry as a whole, and MUST enable responsible innovation. I will work with my colleagues to create a balanced framework that gets this right.

We need cross-party agreement on the future of finance, not narrow partisanship. Stay tuned in the coming weeks for first steps!

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