Senator Cynthia Lummis, a Wyoming republican, will chair the new digital assets of the Senate … (+)
It was a long journey for senator Cynthia Lummis (R-WY) while defending Bitcoin and digital assets at the Congress. Gain respect and acceptance both in the Bitcoin community and in the legislative arena takes time, but after four years, Lummis will finally assume the role of president of the subcommittee of newly established digital assets under the committee Senate banks. This presents a historic opportunity while Congress evolves towards adopting complete legislation on the floors and the structure of the market, potentially during the next year.
However, Senator Kirsten Gillibrand (D-NY), a long-standing co-sponsor of Lummis on cryptographic legislation, does not sit on the Senate banking committee. Consequently, Lummis must obtain the support of the Democrats of the Senate of the Committee to advance bipartite initiatives. Gillibrand, with Lummis, has already co-published the Senator Bill Hagerty (R-TN) engineering law, signaling his commitment to fill the political divisions in the evolving regulatory landscape which would begin with the legislation of Stablecoin.
Approval of witnesses to an article X “this colossal wreckage”
Among the witnesses planned for the next audience, there is Jai Massari, co-founder and legal director of Lightspark. Last Friday, February 21, Massari approved an article on X calling for an important reform within the SEC which included the call of the Democrats who previously directed the regulation of the CRY CRYPTOGRAPHY by implementing efforts of the ‘Biden administration.
Austin Campbell, auxiliary professor at the Nyu Stern School of Business, former and recently appointed CEO of WSPN, who was a frequent witness to the congress and the leader of opinion on cryptographic politics, with a tradfi training of Chase, Stone Ridge and JP Morgan Chase was a vocal critic of the SEC regulatory approach within the framework of the Biden administration. In his article mentioned above with regard to Massari’s approval, “this colossal wreck”, Campbell revealed that a senior Democratic Party had urged him to temper his rhetoric towards the former president of the , Gary Gensler and other people who were previously dry. According to Campbell, he refused and was then inspired to expose his vision of what he thought of happening to those who participated in the dry in the past four years according to the damage caused by their policies.
“They should not be allowed to return to the government, authorized near the levers of power, and whoever in the sustaining Democratic Party, help, encourage or direct it must be ejected immediately and derision in derision for this absolutely shameful chapter of the ‘US Financial regulatory history, ”said Campbell.
Massari tweeted with force on X concerning Campbell’s article:
“This. Especially when it is not politically practical. “”
Although it does not yet know what Massari will testify specifically because the written testimony is not yet public, this message seems to underline the need for cooperation and bipartite to forge significant and lasting cryptographic legislation in the United States, whatever either the policy involved. Between what seems to be a softer tone on the crypto of the senatorial banking committee of the member of the Elizabeth Warren (D-MA) ranking and the campaign of President Tim Scott (R-SC) and the Republicans to adopt stablecoin and possibly Legislation on the structure of the market within the legislation on the structure of the market within the legislation on the structure of the market within the first 100 days of the Trump administration, Massari and its other witnesses can encourage congress to historical and historical laws for the crypto in the United States which have been years.
It will be a challenge for Lummis to ensure that this new subcommittee can be effective. His colleague through the aisle will be the member of the Ruben Gallego (D-AZ) ranking. Senator Gallego voted last year when he was a member of the Congress for Fit21 in the House, as well as for the abrogation of Sab 121, which, according to the notes of the industry, strongly means crypto.
Details on hearing witnesses and information
Besides Massari, Mr. Jonathan Jachym, Deputy General Councilor and Head of Policy and Government Relations for Kraken Digital Asset Exchange, will testify. Jachym has just testified in the room that the third and last witness displayed at this stage is Mr. Lewis Cohen, partner, Cahill Gordon & Reindel LLP. Cohen is one of the main “native” lawyers in the United States and advises customers complex legal and regulatory issues linked to blockchain, cryptocurrency and tokenization in the world capital markets. A witness.
The hearing can be seen via Livestream from Wednesday, February 26 at 2:30 p.m. and will take place in the Dirksen Senate Office 538 building.
