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U.S. Senator Strongly Opposes Potential Regulation Of Self-Custody Crypto Wallets
Summary: Recently, there is a rumor said that US Secretary of the Treasury Steven Mnuchin plans to implement a bill prohibiting or restricting self-custody cryptocurrency wallets by the end of the year. In response, Senator Cynthia Lummis of Wyoming thought it is a step backward for the United States' innovation in the digital technology sector, the ...
Recently, there is a rumor said that US Secretary of the Treasury Steven Mnuchin plans to implement a bill prohibiting or restricting self-custody cryptocurrency wallets by the end of the year. In response, Senator Cynthia Lummis of Wyoming thought it is a step backward for the United States' innovation in the digital technology sector, the key point is the cooperation between government and industry.
Lummis tweeted today: “I am deeply concerned that the Treasury Department is considering a hasty rule governing self-hosted digital asset wallets and the Bank Secrecy Act (BSA). Rather than prematurely adopting a rule on this complex topic, Treasury should immediately begin a transparent process to engage with Congress and industry, building a consensus to drive America forward." Lummis also stated that she had talked with Steven Mnuchin and strongly urged him to provide a better way forward.
By Mary Liu
Tags: Crypto Wallets,Cynthia Lummis,Regulation,Self-Custody,Steven Mnuchin
Link: U.S. Senator Strongly Opposes Potential Regulation Of Self-Custody Crypto Wallets [Copy]
