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 US politician Cynthia Lummis discusses a comprehensive crypto regulation with user protection and clear company guidance. 
 In a recent CNBC television interview, <a href="https://thecryptobasic.com/2021/12/24/pro-bitcoin-u-s-senator-cynthia-lummis-to-present-crypto-regulation-bill/" rel="noopener noreferrer nofollow">the pro-crypto US Senator </a> Cynthia Lummis emphasized the pressing need for a regulatory framework integrating cryptocurrencies into the US economy while prioritizing consumer protection. 
 Lummis revealed plans to reintroduce a crypto regulation bill that faced roadblocks in Congress last year, stating that the updated version incorporates valuable feedback from the Securities and Exchange Commission (SEC). 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/SenLummis?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SenLummis</a> <a href="https://t.co/drISz5suE9" rel="noopener noreferrer nofollow">pic.twitter.com/drISz5suE9</a> 
 <a href="https://twitter.com/SquawkCNBC/status/1679104176188473344?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2023</a> 
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 &nbsp; 
 <h2 id="span-style-font-weight-400-we-need-regulated-crypto-exchanges-span">We Need Regulated Crypto Exchanges </h2> 
 Lummis stressed the necessity of exchanges being registered with the Commodity Futures Trading Commission (CFTC) and addressing illicit finance to ensure the robustness of the crypto ecosystem. 
 Notably, the proposed bill aims to establish adequate penalties, secure the assets and reserves underpinning cryptocurrencies, and introduce additional safeguards for consumer protection. 
 The senator acknowledged the contradictory nature of companies like <a href="https://thecryptobasic.com/2022/11/11/bitboy-accuses-sbf-of-extorting-billions-from-justin-sun-as-ftx-files-for-bankruptcy/" rel="noopener noreferrer nofollow">the bankrupt FTX </a> that operated offshore without sufficient consumer protections. Lummis noted that the lack of regulation exposes consumers to potential risks, echoing SEC Chair Gary Gensler’s depiction of the crypto space as the “wild west.”&nbsp; 
 By implementing <a href="https://thecryptobasic.com/2022/08/03/new-bipartisan-us-bill-puts-cftc-in-charge-of-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">the bill </a>... 
 <a href="https://thecryptobasic.com/2023/07/12/senator-cynthia-lummis-calls-for-comprehensive-crypto-regulation-to-safeguard-consumers/" rel="noopener noreferrer nofollow">Read more</a>
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Senator Cynthia Lummis Calls for Comprehensive Crypto Regulation to Safeguard Consumers

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