{"id":564906,"date":"2024-08-15T08:50:42","date_gmt":"2024-08-15T08:50:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=564906"},"modified":"2024-08-15T08:50:07","modified_gmt":"2024-08-15T08:50:07","slug":"senate-majority-leader-chuck-schumer-pledges-to-establish-pro-crypto-law-by-year-end-if-kamala-harris-elected","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/senate-majority-leader-chuck-schumer-pledges-to-establish-pro-crypto-law-by-year-end-if-kamala-harris-elected","title":{"rendered":"Senate Majority Leader Chuck Schumer Pledges To Establish Pro-Crypto Law By Year End If Kamala Harris Elected"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Democratic Party Senator Chuck Schumer aims to pass crypto-friendly bipartisan legislation by the end of this year if Vice President <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/kamala-harris-price-prediction-harris-pumps-23-as-vice-president-pick-nears-while-this-pepe-2-0-ico-adds-700k-despite-the-market-crash\"><span style=\"font-weight: 400\">Kamala Harris<\/span><\/a><span style=\"font-weight: 400\"> wins the 2024 US presidential election.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400\">&ldquo;I think we should strike a balance for crypto between promoting innovation and providing common sense guardrails,&rdquo; Schumer said while speaking at the virtual Crypto4Harris Town Hall <\/span><a href=\"https:\/\/lu.ma\/dpgcaxsi?locale=en-AU\"><span style=\"font-weight: 400\">meeting<\/span><\/a><span style=\"font-weight: 400\">.&nbsp;<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.usnews.com\/dims4\/USNEWS\/d59a223\/2147483647\/thumbnail\/970x647\/quality\/85\/?url=https%3A%2F%2Fwww.usnews.com%2Fcmsmedia%2F81%2F12%2F0aa3940c4e309c374a18995825c7%2F170915-chuckschumer-editorial.jpg\" alt=\"10 Things You Didn't Know About Chuck Schumer\"><\/p>\n<h2><span style=\"font-weight: 400\">Chuck Schumer Calls For &ldquo;Sensible&rdquo; Crypto Regulation In The US<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Lawmakers can no longer &ldquo;stick their heads in the sand,&rdquo; Schumer said. If regulators don&rsquo;t start to act, he believes the US runs the risk of losing its status as the &ldquo;most innovative country in the word.&rdquo;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Thank you all for joining the <a href=\"https:\/\/twitter.com\/hashtag\/Crypto4Harris?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto4Harris<\/a> Town Hall &#127482;&#127480; <\/p>\n<p>We showcased so many amazing builders, founders, investors and political leaders who are eager and willing to engage <a href=\"https:\/\/twitter.com\/KamalaHQ?ref_src=twsrc%5Etfw\">@KamalaHQ<\/a> regarding a \"reset\" on U.S. crypto policy.<\/p>\n<p>Big news of the night was of course <a href=\"https:\/\/twitter.com\/SenSchumer?ref_src=twsrc%5Etfw\">@SenSchumer<\/a>&hellip;<\/p>\n<p>&mdash; Crypto4Harris (@Crypto4Harris) <a href=\"https:\/\/twitter.com\/Crypto4Harris\/status\/1823915239772987648?ref_src=twsrc%5Etfw\">August 15, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">To mitigate this risk, Schumer would like to &ldquo;bring members from both sides of the aisle&rdquo; together in the Senate to &ldquo;create momentum&rdquo; so that lawmakers can pass &ldquo;sensible legislation.&rdquo; This, according to him, can help prevent <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-and-crypto-not-mentioned-during-trump-musk-x-space\"><span style=\"font-weight: 400\">crypto<\/span><\/a><span style=\"font-weight: 400\"> innovators from opting to establish headquarters overseas in jurisdictions &ldquo;where there will be no regulation at all.&rdquo;<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Multiple Crypto-Related Bills In The Works, But None Have Been Presented To President Biden Yet<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Lawmakers in Washington are currently working on multiple bills related to crypto regulation in the US. However, none of these proposed bills have made it to US President Joe Biden&rsquo;s desk yet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In April, Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., introduced a bill that would block algorithmic stablecoins while simultaneously creating a framework for stablecoins. Senate Agriculture Committee Chair Debbie Stabenow, D-Mich., has started to work on a bill to regulate crypto as well.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, on the House side, a Republican-led crypto market structure bill that gives new jurisdiction to the Commodity Futures Trading Commission over &ldquo;digital commodities&rdquo; was passed in May this year. This bill also asserts that the Securities and Exchange Commission (SEC) would oversee any digital assets offered as part of an investment contract.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye\/\"><span style=\"font-weight: 400\">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!<\/span><\/a><\/li>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/news\/81-million-spot-bitcoin-etf-outflow-ends-positive-streak-as-bitwise-says-two-thirds-of-institutional-holders-increased-or-maintained-q2-positions\"><span style=\"font-weight: 400\">$81 Million Spot Bitcoin ETF Outflow Ends Positive Streak As Bitwise Says Two-Thirds of Institutional Holders Increased Or Maintained Q2 Positions<\/span><\/a><\/li>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/news\/best-cryptocurrencies-to-buy-on-geckoterminal-today-wrapped-dog-fuku-popcat-pancakeswap\"><span style=\"font-weight: 400\">Best Cryptocurrencies To Buy On GeckoTerminal Today &ndash; Wrapped Dog, Fuku, Popcat, PancakeSwap<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">PlayDoge (PLAY) - 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