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UNCHAINED: Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress

CoinDesk Podcast Network

CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

šŸ—“ļø 24 May 2024

ā±ļø 48 minutes

šŸ§¾ļø Download transcript

Summary

Are we ushering in a new era of crypto legislation? U.S. Senator from Wyoming Cynthia Lummis definitely thinks so.Ā  Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Amazon Music, or on your favorite podcast platform. With crypto becoming more politicized than ever, U.S. Senator from Wyoming Cynthia Lummis came on Unchained to talk about the recent regulatory action in Washington, D.C. She delves into what led to bipartisan support to repeal SAB 121, and how the strength of the vote there in both the House and Senate may have affected the about-face decision to approve spot ether ETFs. Sen. Lummis also explains why she disagrees with how Gary Gensler’s SEC is handling the industry, how to avoid the next TerraUSD, why she feels Wyoming-chartered Custodia Bank is not being treated fairly, the ban on a Chinese-owned, Wyoming-based Bitcoin mining firm, and what advice she would give to the crypto industry during this election year. Show highlights: Why the SAB 121 approval was bipartisanĀ  Whether President Biden will veto the resolutionĀ  How it's a "mystery" to Sen. Lummis why the SEC had a change of heart about Ether ETFs How the SEC's approach to regulating the industry "is not the American way" Whether there is a bipartisan majority in favor of crypto in Congress How bitcoin has come a long way in terms of adoption Sen. Lummis' thoughts on how to regulate the stablecoin industry and avoid a Terra Luna situation The differences between the Lummis-Gillibrand bill and FIT21 How Sen. Lummis feels about the denial of a master account for Custodia Bank Whether there's a move against Bitcoin mining companies in the US, given the recent ban of an operation in Wyoming What Sen. Lummis would advise for the industry to accomplish its goals Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot VaultCraft Guest |Ā  Cynthia Lummis, U.S. Senator from Wyoming Links |Ā  Ether ETFs Unchained:Ā  Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security Bits + Bips: Is US Politics Driving the ETH ETF Approval? Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday SAB 121 Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto GuidanceĀ  FIT21: Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited? Open cases: Fortune: SEC sued over Ethereum, crypto firm asks court to state token is not a security Unchained:Ā  Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance? SEC Puts DeFi in Its Sights With Potential Uniswap Suit Unchained: SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report The Real Reason Why the SEC Might Be Going After Ethereum Unchained Podcast is Produced by Laura Shin Media, LLC.Ā  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.Ā  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

since the having and the strength of participation in Bitcoin ETFs.

0:06.9

And now with a decision imminent regarding an Ethereum ETF,

0:12.9

it just seems that we're having a moment here in Washington,

0:16.6

where these assets are getting the consideration that I think they've been due for a very long time.

0:27.5

Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host,

0:32.3

Laura Shin, author of The Cryptopians. I started coming crypto nine years ago and as a senior editor at Forbes

0:38.0

was the first mainstream media porter to cover cryptocurrency full time. This is the May 24th,

0:42.6

2024 episode of Unchained. Pocod is the original and leading layer zero blockchain with over

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1:06.0

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1:12.0

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1:16.6

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1:21.3

Learn more on VaultCraft.io.

1:24.3

Today's guest is Wyoming Senator Cynthia Lemmiss.

1:27.4

Welcome, Senator Lemis.

1:29.2

Laura, it's nice to be on your program, and I sure want to thank you for being one of the presenters at our Financial Innovation Caucus event.

1:38.5

Your book about FTX is going to be, I think, something we all want to read and are just dying to get our hands on it.

1:48.5

Thank you so much. I really appreciate that. So this last week or so, you've really been at the

1:54.6

center of crypto history in the making. And I know this is all old hat for you, but just for

1:59.5

listeners who, I mean, this has just been a head spinning turn of events.

...

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