// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); }/** * The header for our theme * * This is the template that displays all of the section and everything up until
* * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?> Senator Lumis Vows to Push Forward With U.S. Crypto Regulation – CoinsMegaNews

Senator Lumis Vows to Push Forward With U.S. Crypto Regulation

2 years ago CryptoExpert
Senator Vows to Revamp Crypto Regulation as Businesses Abandon US Market

[ad_1]

The past week has been a difficult time for the U.S, crypto space. Following the Securities and Exchange Commission’s (SEC) move to categorize a number of major cryptocurrencies as securities, the sector has been reeling from the consequences of that decision.

But without intervention from policymakers, there is little hope that the situation will improve. 

Stepping up to the challenge, Senator Cynthia Lumis has said she is working on “a regulatory framework that will allow individuals and companies to own and trade digital assets in America.”

Crypto Firms Turn Their Backs on U.S. Market

Trouble for the U.S. crypto sector started after the SEC announced its intention to take on Binance and Coinbase in lawsuits that accuse the two exchanges of selling unregistered securities. 

In the immediate aftermath of the news breaking, Coinbase stock plummeted 18%. And within days, Binance U.S. was forced to suspend USD deposits and withdrawals.

Without mincing words, Binance openly criticized the SEC’s approach to crypto regulation, calling the commissions tactics “aggressive” and promising to “fight for a path forward.”

Even prior to the SEC’s recent actions, the global crypto landscape had already begun reorienting itself to be less U.S.-focused.

For example, Asian hourly spot volumes have grown 30% in 2023 amid declining volumes in the U.S.

And it isn’t just cryptocurrency exchanges and traders that could gain from pivoting toward alternative markets.

On Saturday, Polygon Labs published a statement emphasizing its global outlook and the history of the Polygon Network outside of the United States. In a veiled reference to the SEC’s classification of its MATIC token as a security, the company stated that:

“The non-US market is the largest in the world, and we are grateful for all the thoughtful work being done on all aspects of this technology around the globe, including by regulators & policymakers.”

Cynthia Lumis: The “Crypto Queen” of The U.S. Senate

Against the backdrop of businesses pivoting away from the U.S. and a major crash in altcoin markets, one Republican senator is positioning herself as a potential savior.

In a tweet on Saturday evening, Senator Cynthia Lumis stated that she is working on “a regulatory framework that will allow individuals and companies to own and trade digital assets in America.”

Sometimes referred to as the “crypto queen” of the U.S. Senate, Lumis has previously worked on the bipartisan “Responsible Financial Innovation Act,” which she co-authored with the Democratic Senator Kirsten Gillibrand.

Unfortunately, Lumis and Gillibrand’s Bill appears to have stalled in a wave of post-FTX crisis apprehension and Washington procrastination. But the current market volatility and the very real threat of a mass exodus of businesses could be just what is needed to breathe new life into their efforts.

In an interview earlier this year, Lumis revealed that the two senators were working on a new and improved version of the Bill.

She added that the issue of determining what is a commodity and what is a security has been central to their latest efforts. Rather than leaving it to regulators to make such determinations, she suggested that “meatier” legislation could prevent the kinds of lawsuits that are currently hamstringing  the sector.

“We’re now proposing more statutory language, because […] Congress needs to and is ready to weigh in on some of those concepts,” she stressed.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

[ad_2]

Source link

More Stories

Hong Kong Police Take Down $65 Million Triad Money Laundering Operation

Hong Kong Police Bust Vast Triad Money Laundering Ring

2 years ago CryptoExpert
AI Industry’s Growing Demand: Governments Invest in Stable GPU Supply

UK and Saudi Governments Scramble to Secure AI GPU Supply

2 years ago CryptoExpert
Vitalik Buterin Receives Taiwan Employment Gold Card – Is this the Next Crypto Capital?

New Crypto Hub in the Making?

2 years ago CryptoExpert
How Global Stablecoin Use Supports Dollar’s Supremacy

Global Stablecoin Adoption Boosts Dollar Supremacy

2 years ago CryptoExpert
This US Presidential Candidate Just Started Accepting Bitcoin Donations

This US Presidential Candidate Accepts Bitcoin Donations

2 years ago CryptoExpert
Bitfinex Money Launderers Agree Plea Deal in $3.6 Billion Bitcoin Heist

$3.6 Billion Bitfinex Money Launderers Agree Plea Deal

2 years ago CryptoExpert

Leave a Reply

Your email address will not be published. Required fields are marked *

/** * The template for displaying the footer * * Contains the closing of the #content div and all content after. * * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?>

You may have missed

Online Gambling Establishment Real Money: A Comprehensive Overview to Winning Large

3 days ago xtw18387208b

How to Deposit at Online Gambling Establishments Using Neteller

3 days ago xtw18387208b

Free Online Slots No Download: The Ultimate Guide

3 days ago xtw18387208b

The Best Places to Play Casino Games Online

3 days ago xtw18387208b