Apr 18, 2024

Sen. Cynthia Lummis (R-Wyo.) explains that crypto-related "colossal failures" in the past few years have prevented Congress from moving forward with digital assets regulation.

Video transcript

We think that some of the things that have prevented uh the Congress from being comfortable and ready to move forward with digital assets is examples of colossal failures that have occurred over the years instead of creating an atmosphere where the Congress says, wow, we need to regulate this to prevent some of these things from happening again. Senator Gillibrand, and I just think it's better to start with. Here's a very strong regulatory framework that we're putting out. Um, we're happy to adjust it according to changes the House might want to make changes, the White House might want to make changes the industry might want to make. But starting with a very firm, solid regulatory framework seem to be a good place to just lay the product on the table for comment. And uh uh we'll begin considering comment immediately.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to coindesk.consensus.com to register and buy your pass now.