ICYMI: After months of hype, Lummis-Gillibrand crypto bill is more media event than law
Given the extensive public relations work on the bill during its development, its final introduction on June 7 was inevitably going to be a significant event for the cryptocurrency industry as well as the broader public.
Partially, that is due to the scale of the bill, which encompasses broad spectrum of issues. No one individual party is pleased with the whole thing. But many parties within the industry are happy to have the mass attention on the bevy of issues facing them. Also factoring into the bill’s reception is that congressional midterm elections are coming up in November, with an anticipated flip away from the current narrow Democratic majority in the House of Representatives and potentially the Senate as well. Campaign season is therefore in high gear, taking many lawmakers away from lawmaking.
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