Bipartisan Crypto Bill Proposes Sweeping Oversight of Digital Assets

Two senators—a Democrat and a Republican—will on Tuesday officially unveil a sweeping legislative proposal to regulate cryptocurrencies and other digital assets.

“As a former state treasurer, I am excited by the possibilities of incorporating digital assets into the American financial system. The legislation that @SenGillibrand and I are proposing will do just that,” Sen. Cynthia Lummis (R-Wyo) said in a tweet, referring to Sen. Kirsten Gillibrand (D-N.Y.), co-sponsor of the crypto bill.

In a separate tweet, Lummis shared an article from Bitcoin Magazine, which featured a link to the draft legislation, called the Responsible Financial...