Dog bites man: US pols unveil latest cryptocurrency regulation fantasies

Source: Terre Haute Tribune-Star

“Wide-ranging bipartisan legislation unveiled Tuesday would [let politicians pretend they have the power to] regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures. It’s unclear, though, whether the bill proposed by Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., can clear Congress, especially at a time of heightened partisanship ahead of midterm elections. The bill also comes as advocates for cryptocurrency have become bigger — and more free-spending — players in Washington. … Gillibrand said the bill establishes ‘a regulatory framework that spurs innovation, develops clear standards, defines appropriate jurisdictional boundaries and protects consumers.'” [editor’s note: The “crypto” part of “cryptocurrency” means you don’t need, nor can you be forced to accept, Gillibrand’s permission or “oversight” – TLK] (06/07/22)