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 Innovation Act.

“Thank you for your patience. I’m excited to FINALLY get this out the door. There will almost certainly be provisions you like. Perhaps there will be provisions you oppose. Getting this right will be hard but worth it,” Lummis wrote.