Here’s What’s In Senator Lummis’ Bitcoin Bill

The bipartisan Bitcoin legislation by U.S. Senators Cynthia Lummis (R-WY) from the Senate Banking Committee and Kirsten Gillibrand (D-NY) from the Senate Agriculture Committee has finally been introduced – months after the effort was first announced.

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The legislation, coined the Responsible Financial Innovation Act, also referred to as Lummis-Gillibrand, seeks to encourage “responsible innovation” by integrating digital assets into existing laws and providing greater clarity to an industry that is largely unregulated and lacks common standards and defining measures. The text boasts 69 pages of detailed definitions and provisions.

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