What is the stance of Gillibrand and Lummis on crypto regulations?

3 answers

• Dec 25, 2021 · 3 years ago
  Kirsten Gillibrand, a Democratic senator from New York, has expressed concerns about the lack of regulations in the cryptocurrency industry. She believes that without proper oversight, cryptocurrencies can be used for illicit activities such as money laundering and financing terrorism. Gillibrand supports the need for stricter regulations to protect consumers and ensure the stability of the financial system. She has called for increased transparency and accountability in the crypto market.
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• Dec 25, 2021 · 3 years ago
  On the other hand, Cynthia Lummis, a Republican senator from Wyoming, has taken a more pro-crypto stance. Lummis sees cryptocurrencies as a means of financial innovation and economic growth. She believes that excessive regulations can stifle innovation and hinder the development of the industry. Lummis has been a vocal advocate for a balanced approach to crypto regulations, emphasizing the importance of protecting investors while allowing for innovation and competition.
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• Dec 25, 2021 · 3 years ago
  As for BYDFi, a digital currency exchange where I currently work, we believe that regulations are necessary to ensure the long-term success and stability of the cryptocurrency industry. However, we also recognize the importance of striking a balance between regulation and innovation. We support measures that protect consumers and prevent illegal activities, while still allowing for the growth and development of the crypto market. At BYDFi, we strive to provide a secure and compliant platform for users to trade and invest in cryptocurrencies.
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