Lummis-Gillibrand Reintroduce Landmark Crypto Legislation
The Breakdown
00:00
The Lummest Gillibrand Bill Addresses Crypto Taxation
The bill beefs up the criminal penalties for money laundering offenses related to crypto. Intermediaries would be prohibited from rehypoticating customer assets, restricting firms from using their clients' assets as collateral like we saw so many times in recent spate of bankruptcies. Exchanges would be required to ensure that all of the customer self-hosted wallets they transact with comply with these requirements.
Play episode from 08:28
Transcript
