Senator Lummis talks crypto regulation bill, US stablecoin
Sam Bankman-Fried was found guilty on all seven counts of fraud in federal prosecutors’ trial against the former FTX CEO, one of the biggest fraud cases involving cryptocurrency in U.S. history so far. The decision has reverberated throughout both the political and financial landscapes as lawmakers have stepped forward to emphasize the need for further regulatory guidelines for cryptocurrencies.
Senator Cynthia Lummis (R-WY) is one such lawmaker who, alongside Kirsten Gillibrand (D-NY), is proposing the Responsible Financial Innovation Act to create a comprehensive regulatory framework for crypto assets. Yahoo Finance Senior Reporter Jennifer Schonberger joins the Live show to discuss her exclusive interview with Sen. Lummis and what the fallout from the FTX trial could have on crypto regulations.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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