Senator Lummis Defends Crypto Market Amid US Crackdown: A Stand for Investor Rights & Bitcoin (BTC)

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The crypto industry faces increasing global regulatory pressure, with the Biden administration intensifying its crackdown on the sector.
Senator Cynthia Lummis, a prominent supporter of Bitcoin and the crypto market, has issued a strong statement against the US government’s stance on the industry.
Lummis condemns the Department of Justice’s (DOJ) “hyper-aggressive” argument that non-custodial software could be classified as a money transmission service.

Senator Cynthia Lummis criticizes the Biden administration’s intensified crackdown on the crypto industry, condemning the DOJ’s stance on non-custodial software. Lummis also calls for clear regulatory guidelines for the crypto market.

Lummis Condemns DOJ’s “Hyper-Aggressive” Stance

Senator Lummis has expressed deep concern and opposed the Department of Justice’s (DOJ) argument that non-custodial software could be classified as a money transmission service. She deems this stance contradictory to existing Treasury guidance, lacking common sense, and violating the rule of law. Lummis further emphasizes that arguments against self-custody software pose a threat to fundamental property rights that are intrinsic to being an American.