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Amid crypto turmoil, senators propose sweeping oversight
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FILE - Sen. Kirsten Gillibrand, D-N.Y., speaks during a news conference May 5, 2022, on Capitol Hill in Washington. - photo by AP Photo/Jacquelyn Martin, File
WASHINGTON (AP) — A bipartisan pair of senators has unveiled what would be the most wide-ranging legislative proposal to regulate cryptocurrencies and other digital assets, following a series of high-profile busts and failures. It’s unclear, though, whether the bill proposed by Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., can clear the hurdles of Congress, especially at a time of heightened partisanship ahead of midterm elections.