Cynthia Lummis Releases Draft Bill That Aims To Make US Global Crypto Capital, Says She Won’t ‘Allow’ Regulatory Confusion To Continue

Republican Senators released a discussion draft for the cryptocurrency market structure legislation on Tuesday, building on the recent passage of the CLARITY Act in the House of Representatives.

What Happened: Cynthia Lummis (R-Wyo.), along with Sen. Tim Scott (R-S.C.), Sen. Bill Hagerty (R-Tenn.) and Sen. Bernie Moreno (R-Ohio) announced the release of a discussion draft for market structure legislation aimed at making the U.S. “the crypto capital of the world.”

As part of this initiative, the lawmakers have also issued a Request for Information, inviting stakeholders to provide feedback on the draft and relevant questions.

“We cannot allow regulatory confusion to continue driving American innovation overseas,” Lummis said. “This discussion draft represents a thoughtful, balanced approach that will provide the clarity our innovators need while providing robust consumer protections.