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Senator Vows to Revamp Crypto Regulation as Businesses Abandon US Market

The U.S. crypto sector has been facing difficulties after the SEC categorized major cryptocurrencies as securities.

This has caused a decline in the sector, and without intervention from policymakers, the situation is unlikely to improve. However, Senator Cynthia Lumis is working on a regulatory framework that will allow individuals and companies to own and trade digital assets in America. Meanwhile, businesses are turning away from the U.S. market and looking towards alternative markets, such as Asia.

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