Senator Cynthia Lummis Slams Jeff Merkley’s Proposed Crypto Amendment
Main Idea
Senator Cynthia Lummis criticizes Senator Jeff Merkley's proposed amendment to ban federal officials from promoting or offering cryptocurrencies, arguing it would harm American innovation and competitiveness.
Key Points
1. Senator Cynthia Lummis opposes Senator Jeff Merkley's amendment to prohibit federal officials from promoting or offering cryptocurrencies.
2. Lummis claims the amendment would harm American innovation and competitiveness in the crypto sector.
3. Merkley's amendment aims to prevent elected officials from 'corrupting' their public position through crypto sales.
4. Republican senators have rejected Merkley's proposed amendment.
5. Lummis argues that the amendment is misguided and would hinder effective regulation of digital assets.
Description
Senator Cynthia Lummis (R-WY) slammed an amendment proposed by fellow Senator Jeff Merkley (D-OR) on June 30 that would ban elected officials from offering or promoting digital assets. Senator Cynthia Lummis Airs Crypto Amendment Concerns Speaking on Capitol Hill on Monday, Lummis claimed that Merkley’s proposed amendment “goes too far” when it comes to legislating the blockchain sector . Ranking Member @SenJeffMerkley offers an amendment to prohibit ALL federal government officials from promoti...
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