US Senator Cynthia Lummis, a part of the US Senate Banking Committee and one of only two serving senators with Bitcoin in her equity investment intends to present legislation that would dramatically change the policy and institutional landscape for cryptocurrency. The bill aims to cover all regulatory challenges, including consumer safeguards, safeguard coin management, and the formation of a new institution to oversee the technology platform market beneath the combined authority of the Commodity Futures Trading Fee (CFTC) and the Securities and Alternate Fee (SEC) (SEC).
In India, a proposed bill prohibiting cryptocurrency payments might result in jail time for violators.
According to a source and a description of the draught reviewed by Reuters, proposed legislation in India that would restrict the use of cryptocurrencies as a form of payment also intends to make people who break the law susceptible to arrest without a warrant and detention without bail.
Even though the government has stated that it would create its own digital currency, investors remain concerned about its destiny. Nirmala Sitharaman, the finance minister, has stated that her team has done the legwork on the Bill and has collected the views of all stakeholders.