Lummis Slams Senate Democrats Over Crypto Market Structure Bill Failure

Senator Cynthia Lummis has placed blame on Senate Democrats for the failure of a cryptocurrency market structure bill. The measure aimed to create a new regulatory framework for the crypto market while preserving the U.S. Securities and Exchange Commission's (SEC) authority over investor protection and unfair trading.

Lummis emphasized that the bill would have allowed the SEC to retain its existing powers to police fraud and market manipulation, thereby safeguarding investors. However, Senate Democrats blocked the measure, leading to its failure in a recent procedural vote.