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Does the Senate Crypto Regulation Bill Scratch The Itch?

Critics of the proposed legislation from Senators Lummis and Gillibrand think it doesn’t go far enough to protect consumers and hold firms accountable

Kirsten Gillibrand and Cynthia Lummis
Kirsten Gillibrand and Cynthia Lummis

Source: Bloomberg

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In June, Senators Kirsten Gillibrand and Cynthia Lummis introduced a sweeping Senate bill that would regulate crypto assets. Influential crypto insiders have hailed the proposal as a great starting point - a reception which suggests it might be perceived as relatively friendly to the digital asset community. Hilary Allen, a law professor at American University, is among those who think the proposed legislation doesn’t go far enough, especially when it comes to consumer protection. She joins this episode for a critical look at the Gillibrand/Lummis bill.