Cynthia Lummis drew viewers’ attention to the fact that in the case of America’s largest cryptocurrency exchange, the SEC demonstrated inconsistency and incompetence to all participants of the crypto market.
“Everyone knows that Coinbase has repeatedly sought advice from the SEC on how to comply with current regulatory rules. However, instead of a qualified and adequate response Coinbase received penalties and a lawsuit. In my opinion, this is the wrong way to do business in America,” Lummis explained.
In a follow-up interview for Yahoo Finance, the senator said that Congress plans to debate an updated version of a bipartisan bill to regulate the digital asset space in the United States in the next two to three weeks.
Earlier, House Financial Services Committee Chairman Patrick McHenry said he expects a vote on the digital asset market structure bill in the first half of July.