Summary
- Lummis said Senate Democrats were responsible for blocking the cryptocurrency market structure bill.
- She said the measure would have preserved the U.S. Securities and Exchange Commission (SEC)'s authority to police fraud and market manipulation.
- She said the bill was designed to establish a new regulatory framework for the crypto market while preserving powers tied to investor protection and unfair-trade enforcement.
Forecast Trend Report by Period
Senator Cynthia Lummis said Senate Democrats were responsible for blocking a cryptocurrency market structure bill.
Cointelegraph reported on September 18 that Lummis said Democrats stopped the measure from advancing even though it would have preserved the U.S. Securities and Exchange Commission's authority to police fraud and market manipulation.
She said the bill was designed to establish a new regulatory framework for the crypto market while allowing the SEC to retain its existing powers to protect investors and combat unfair trading practices.
Lummis made the remarks after a procedural vote on the crypto market structure bill recently failed in the Senate.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.