Foresight News: US Republican Senator Cynthia Lummis from Wyoming and Democratic Senator Kirsten Gillibrand from New York have jointly proposed a comprehensive bill to regulate digital assets. Lummis stated that the US Securities and Exchange Commission (SEC) is overstepping its boundaries when it comes to regulating cryptocurrencies. Along with other stakeholders, Lummis urged the New York District Court to dismiss the SEC's lawsuit against cryptocurrency exchange Coinbase.
Lummis cited the major question doctrine, which states that if an agency wants to make decisions on issues of significant national importance, it must have explicit support from Congress.
