Senators Announce Cryptocurrency Bill

Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) announced the “Lummis-Gillibrand Responsible Financial Innovation Act,” set to be introduced in the Senate. The Senators describe the bill in an accompanying press release as a “complete regulatory framework for digital assets.” Included within the many provisions of the bill is a requirement for the Government Accountability Office (GAO) to conduct a study and provide a report to Congress and the Secretaries of Treasury and Labor on benefits, risks, and barriers to retirement investing in digital assets.