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In contrast, Gensler maintains that the U.S. already has sufficient crypto regulations in place, emphasizing investor protection. While he acknowledges Bitcoin\u2019s non-security status, he has not clarified Ethereum\u2019s classification.<\/p>\n
To address regulatory gaps, Lummis is working on a proposal with Senator Kirsten Gillibrand to revise the wash sale rule, aiming to boost the CFTC\u2019s regulatory capabilities. Additionally, she and other lawmakers have criticized the SEC\u2019s Staff Accounting Bulletin 121, which requires crypto custodians to categorize customer assets as liabilities, arguing it imposes unnecessary burdens on the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cynthia Lummis, a U.S. Senator and pro-crpypto advocate, has criticized the SEC\u2019s approach to cryptocurrency regulations, claiming it hinders the industry\u2019s growth.<\/p>\n","protected":false},"author":3,"featured_media":34586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22,25],"tags":[72,424,271],"coin_category":[],"class_list":["post-138115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","category-regulations","tag-bitcoin","tag-crypto","tag-ethereum"],"acf":[],"yoast_head":"\n
Senator Lummis Takes Aim at SEC, Demands Clear Crypto Rules<\/title>\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\t\n\t\n\t\n