.SenGillibrand announces new draft of crypto bill aimed at enhancing oversight over stablecoins and providing comprehensive definitions of tokens
The senator, along with her co-sponsor Senator Cynthia Lummis, plans to release a more detailed version of the Responsible Financial Innovation Act in mid-April.
Behnam also revealed that the CFTC's enforcement team had determined that Tether stablecoin was a commodity. However, this could potentially set up another conflict with the SEC.Back in June 2022, the Gillibrand-Lummis bill was put forward to the Senate with the intention of making it easier to understand the duties of regulatory bodies, bolstering scrutiny on stablecoins, and getting rid of taxes on crypto transactions that are worth less than $200.
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