Sen. Cynthia Lummis, R-Wyo., doubled down on the Republican attack on the left’s handling of crypto policy at Bitcoin 2024

Bitcoin is being tossed around as a potential US reserve asset, like gold and foreign currencies

Despite increased bipartisan efforts in Congress to pass crypto-related legislation, Sens. Lummis and Scott say Democrats are still standing in the way

Committee members directed more questions to Christy Goldsmith Romero, who could soon be leading one of the more troubled federal agencies

Sen. Cynthia Lummis, Rep. Mike Flood and Wiley Nickel on Thursday introduced a joint resolution to overturn the SEC’s latest accounting standards

Lummis and Hill want the DOJ to investigate — and potentially take action — to “choke off sources of [terror] funding”

Lummis originally made critical comments of the Biden Administration’s tax on bitcoin miners at Bitcoin Miami, but retweeted an article summing up her views on Thursday

Several crypto bills that never made it out of committee last session are making their second run at becoming law this year

The revised version is going to be more detailed when it comes to defining tokens, Sen. Gillibrand said

Roughly 80% of respondents say crypto regulations should be clearer, including 88% of Democrats and 77% of Republicans

“A well-considered initial framework from renowned regulators will lend credibility to crypto,” LMAX CEO said

As US law currently stands, stakers and miners are required to pay taxes on rewards such as income, regardless of if the tokens were sold or traded

The bill specifies that DAOs are by default classified as a business entity, meaning that these community-led groups can expect to pay up on tax day

The wide-ranging bill addresses stablecoins, DAOs, and requirements for digital asset exchanges

Senators Lummis and Gillibrand are out to prove bipartisan digital asset policy is still possible in Washington

The White House comes out in support of the original provision which requires digital asset brokers to disclose investors’ gains earned from cryptocurrency. Senate to vote as early as Saturday, August 7.

Jason and Senator Lummis talk bout the proposed infrastructure bill and the impact it could have on bitcoin and innovation at-large.