U.S. Senator Kirsten Gillibrand is reportedly trying to convince her fellow Democrats to support legislation to increase regulatory clarity for cryptocurrencies.
In a new interview with Fortune, the New York senator says she’s hopeful her bipartisan cryptocurrency bill can get a hearing from a key Senate committee.
Gillibrand introduced the bill last year with pro-crypto Republican Senator Cynthia Lummis of Wyoming to clarify regulations surrounding digital assets, but the proposal stalled after the FTX scandal. A new version of the bill was announced in July.
Gillibrand says Republicans in Congress are more supportive of crypto than Democrats, which Gillibrand says he’s trying to change.
“I don’t think it has to be a party political issue. I am optimistic that through conversations and through socialization of the ideas in our bill, it will become more bipartisan.”
Anti-crypto U.S. senators currently serve on the Senate’s main banking committee, including Sen. Elizabeth Warren (D-Mass.) and Chairman Sherrod Brown (R-Ohio).
Gillibrand tells Fortune that she is in active discussions with Brown about a compromise to get her bipartisan bill, the Responsible Financial Innovation Act of 2023, before the committee in the spring of next year.
A key provision of the bill is that it would clearly define most digital assets as commodities and put the U.S. Commodity Futures Trading Commission (CFTC) in charge of overseeing them.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on TweetFacebook and Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/IgorZh/WindAwake
