Bipartisan Efforts Shape New Legislation Against Foreign Election Interference and Cryptocurrency Misuse

Bipartisan Efforts Shape New Legislation Against Foreign Election Interference and Cryptocurrency Misuse

Date: April 17, 2024 Cynthia M. Lummis

U.S. Senator Cynthia Lummis, in a striking effort to fortify the United States against external threats and financial volatility, has spearheaded two critical pieces of legislation, drawing bipartisan support. The Wyoming Republican, together with colleagues from both sides of the aisle, aims to address pressing issues surrounding election integrity and the burgeoning field of digital finance.

The first initiative, titled the Preventing Foreign Interference in American Elections Act, sees Senator Lummis partnering with Senator Bill Hagerty in a decisive move to safeguard U.S. elections from foreign influence. This proposed law would enact stringent measures against foreign contributions and certain electoral practices, notably ballot harvesting and overt public communications by non-U.S. entities. Its primary objective is to reinforce the resilience of American democratic processes by minimizing external meddling.

Parallel to her efforts in election security, Senator Lummis has joined forces with Senator Kirsten Gillibrand (D-NY) to introduce the bipartisan Lummis-Gillibrand Payment Stablecoin Act. This groundbreaking proposal seeks to establish a comprehensive regulatory framework for payment stablecoins, cryptocurrencies designed to minimize price volatility. Highlighting the significance of consumer protection and the prevention of illicit financial activities, the bill mandates strict reserve requirements for stablecoin issuers and limits on certain types of stablecoins, ensuring they comply with anti-money laundering protocols.

Both bills have garnered commendations from key figures in election integrity circles and financial regulation, showcasing a rare moment of unity in the often-divisive halls of Congress. Senator Lummis’s dual campaigns reflect a concerted effort to empower Americans and secure the nation’s financial and democratic institutions against both foreign and domestic challenges.

As these legislative endeavors move forward, they underscore the importance of bipartisan cooperation in addressing complex challenges facing the nation. Senator Lummis’s actions signal a robust commitment to not only protecting the core foundations of American democracy but also to adapting and thriving in the digital age.