{"id":60969,"date":"2022-05-04T12:47:35","date_gmt":"2022-05-04T09:47:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60969"},"modified":"2025-09-05T09:20:34","modified_gmt":"2025-09-05T06:20:34","slug":"cynthia-lummis-explains-omission-of-nfts-from-crypto-regulation-bill","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cynthia-lummis-explains-omission-of-nfts-from-crypto-regulation-bill\/","title":{"rendered":"Cynthia Lummis explains omission of NFTs from crypto-regulation bill"},"content":{"rendered":"<p>In the current version of the US cryptocurrency regulation bill, provisions on non-fungible tokens (NFTs) and environmental issues were not included, said U.S. Senator from Wyoming Cynthia Lummis.<\/p>\n<p>She said that difficulties in classifying NFTs had blocked their inclusion in the bill, and she expressed hope that regulators would eventually reach a consensus on the issue.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"A conversation on the future of crypto adoption\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/-AMjvnNsd80?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>The bill would harmonize the legal framework so that cryptocurrencies and traditional assets fall under the same regulatory categories, Lummis emphasized.<\/p>\n<p>In particular, it would divide powers between <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> and <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>. Under the supervision of the first agency would be assets that are considered commodities and traded on the spot or futures markets; the second would cover those classified as securities under the Howey test.<\/p>\n<p>She added that the bill would allow using cryptocurrencies in payments and integrate the asset class into 401(k) retirement accounts. Earlier, Fidelity Investments <a href=\"https:\/\/forklog.io\/fidelity-investments-pozvolit-investoram-nakaplivat-bitkoiny-na-pensionnyh-schetah\/\">\u0437\u0430\u044f\u0432\u0438\u043b\u0438<\/a> in Fidelity Investments that it planned to offer clients such a possibility.<\/p>\n<p>The document also touches on CBDCs, but Lummis declined to specify details.<\/p>\n<p>Work on the comprehensive document \u2014 from taxation to consumer protection \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-senator-cynthia-lummis-to-propose-a-bill-regulating-cryptocurrencies\">began<\/a> in December 2021.<\/p>\n<p>In March 2022, Lummis and her colleague Kirsten Gillibrand <a href=\"https:\/\/u1f987.com\/en\/news\/us-senators-reveal-details-of-cryptocurrency-regulation-bill\">clarified<\/a> that the bill would grant the CFTC additional powers and include the SEC definitions of securities.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full stream of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current version of the US cryptocurrency regulation bill did not include provisions on non-fungible tokens (NFTs) or environmental issues, said U.S. Senator from Wyoming Cynthia Lummis.<\/p>\n","protected":false},"author":1,"featured_media":60970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,26],"class_list":["post-60969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60969"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60969\/revisions"}],"predecessor-version":[{"id":60971,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60969\/revisions\/60971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60970"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}