{"id":462256,"date":"2022-06-13T22:01:00","date_gmt":"2022-06-13T19:01:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\/"},"modified":"2022-06-13T22:01:00","modified_gmt":"2022-06-13T19:01:00","slug":"law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\/","title":{"rendered":"# Law Decoded, June 7\u201313: Lummis-Gillibrand bill is finally here"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4122da69578\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4122da69578\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\/#%E2%80%9D_Law_Decoded_June_7%E2%80%9313_Lummis-Gillibrand_bill_is_finally_here_%E2%80%9C\" >&#8221; Law Decoded, June 7\u201313: Lummis-Gillibrand bill is finally here  &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\/#Legal_troubles_mount_for_Terraform_Labs\" >Legal troubles mount for Terraform Labs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\/#Bad_week_for_Binance\" >Bad week for Binance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\/#A_letter_from_human_rights_activists\" >A letter from human rights activists<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Law_Decoded_June_7%E2%80%9313_Lummis-Gillibrand_bill_is_finally_here_%E2%80%9C\"><\/span>&#8221; Law Decoded, June 7\u201313: Lummis-Gillibrand bill is finally here  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvOWY2OGJhNGMtM2Q5OC00ZDJlLWE1ZWMtMjk3ZWMxNjNkMTc0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>One can hardly name a document more long-hoped-for as the crypto bill, co-sponsored by United States Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, was for the crypto community. And, it\u2019s finally here. Last week, Lummis and Gillibrand introduced a 69-page bill in the U.S. Senate. What\u2019s inside? The projects of study on the environmental impact of digital assets and advisory committee on innovation,\u00a0a tax structure, a mandate for analysis of the use of digital assets in retirement savings and much more.<\/p>\n<p>Should it become law, the bill would undoubtedly implement major changes to the current regulatory landscape. Kirsten Gillibrand and Cynthia Lummis have confirmed that Bitcoin (BTC) and Ether (ETH) will be classified as commodities and regulated by the Commodity Futures Trading Commission (CFTC). At the same time, bill authors consider most altcoins securities subject to U.S. Securities and Exchange Commission (SEC) regulations. \u201cIt will be a struggle to decipher what exactly is in the SEC bucket, but it could be the exception that swallows the rule,\u201d a worried expert told Cointelegraph. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Legal_troubles_mount_for_Terraform_Labs\"><\/span>Legal troubles mount for Terraform Labs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Terraform Labs, the parent company behind the collapsed Terra ecosystem, continues its struggle with enforcement agencies and courts in both hemispheres. The Seoul Metropolitan Police Agency received an intelligence tip informing them of possible embezzlement of BTC by one of the firm\u2019s employees, though not Do Kwon himself. But Kwon is still in enough trouble, as The United States Court of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>eals rejected his dispute of a subpoena by the SEC, ruling that it was served correctly.<\/p>\n<p><strong>Continue reading<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bad_week_for_Binance\"><\/span>Bad week for Binance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Major crypto exchange Binance suffered some heavy blows last week. The SEC investigated whether Binance Holdings broke securities rules when it launched its native token BNB in an initial coin offering (ICO) five years ago. Then, Reuters alleged that Binance processed at least $2.35 billion of transactions from hacks, investment frauds and narcotics sales between 2017 and 2021. In its written statement, the company snubbed the journalists\u2019 allegations as disinformation attempts by certain interested parties to \u201cmislead the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public.\u201d\u00a0<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"A_letter_from_human_rights_activists\"><\/span>A letter from human rights activists<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Writing letters is cool once again. A week after the open letter by tech scientists against the lobbying effort of the industry comes the new one, this time from human rights activists. Campaigners from 20 countries have submitted an open letter to the U.S. Congress in support of a \u201cresponsible crypto policy\u201d and praising Bitcoin and stablecoins as essential tools aiding democracy and freedom for tens of millions. The human rights coalition lashed out at the authors of last week\u2019s anti-crypto letter who come from countries with \u201cstable currencies, free speech, and strong property rights\u201d and that they most likely haven\u2019t experienced hyperinflation or \u201cthe cold grip of dictatorship.\u201d<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/law-decoded-june-7-13-lummis-gillibrand-bill-is-finally-here\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Law Decoded, June 7\u201313: Lummis-Gillibrand bill is finally here &#8220; One can hardly name a document more long-hoped-for as the crypto bill, co-sponsored by United States Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, was for the crypto community. And, it\u2019s finally here. Last week, Lummis and Gillibrand introduced a 69-page&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvOWY2OGJhNGMtM2Q5OC00ZDJlLWE1ZWMtMjk3ZWMxNjNkMTc0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74858,122378,70934],"class_list":["post-462256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bitcoin-regulation","tag-terra","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462256"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462257"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}