PiCK
CFTC chair, Sen. Lummis hold surprise meeting… “Urgent need for crypto legislation”
Summary
- U.S. CFTC Chair Michael Selig and Sen. Cynthia Lummis said they aligned on advancing legislation on the crypto market structure.
- The meeting is expected to give additional momentum to the Donald Trump administration’s push to bring crypto into the regulatory mainstream, backed by coordination between regulators and Congress.
- Sen. Lummis said she hopes to continue working together to fully integrate crypto into the 21st-century financial system.
Forecast Trend Report by Period
Michael Selig, chair of the U.S. Commodity Futures Trading Commission (CFTC), and Republican Sen. Cynthia Lummis met and aligned on advancing legislation on the crypto market structure. The Donald Trump administration’s push to bring crypto into the regulatory mainstream is expected to gain further momentum as regulators and Congress step up coordination on multiple fronts.
According to industry sources on the 5th (local time), Chair Selig and Sen. Lummis held a surprise meeting that day and discussed ways to cooperate to swiftly pass “crypto market structure legislation.” The two sides are said to have reaffirmed their commitment to do everything possible to see the bill through the final hurdle.
In a post on X shortly after the meeting, Sen. Lummis said, “I had a very productive discussion with CFTC Chair Michael Selig about crypto market structure,” adding, “Chair Selig also clearly understands the urgency of the current situation (that requires legislation).”
She added that she looks forward to continued cooperation to “fully integrate crypto into the 21st-century financial system.”
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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