Cynthia Lummis Says Congress Must Choose Between Preserving U.S. Financial Innovation Leadership and Ceding It to China
JH Kim
Summary
- U.S. Senator Cynthia Lummis said Congress will soon face a critical choice that will determine the direction of U.S. financial innovation.
- She said Congress must choose between advancing financial innovation with consumer safeguards or handing leadership in the future of finance to China.
- Cointelegraph reported that she stressed the U.S. needs a regulatory framework that can promote financial innovation while ensuring consumer protection.
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U.S. Senator Cynthia Lummis said Congress will soon face a critical choice that will shape the future of financial innovation in the United States.
Cointelegraph reported on Sept. 8 that Lummis said lawmakers must decide whether to advance financial innovation with consumer safeguards or hand China the lead in the future of finance.
She emphasized that the U.S. needs a regulatory framework that can both promote financial innovation and protect consumers.
Lummis has long pushed cryptocurrency-related legislation and called for the U.S. to establish a regulatory framework for digital assets.
JH Kim
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