To provide for consumer protection and responsible financial innovation, to bring crypto assets within the regulatory perimeter, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To provide for consumer protection and responsible financial innovation, to bring crypto assets within the regulatory perimeter, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Criminal Justice.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title; table of contents This Act may be cited as the Lummis-Gillibrand Responsible Financial Innovation Act. The table of contents for this Act is as...
- Section id52E7A54B0E9F45AAB3527316A96C7CD2: 2. Definitions In this Act: The term commodity has the meaning given the term in section 1a of the Commodity Exchange Act (7 U.S.C. 1a). The terms crypto...
- Section idA245250970C8460DAFF371A23A8EB1A6: 101. Definitions Subtitle VI of title 31, United States Code, is amended by adding after chapter 97 the following: 98Crypto assets Sec. 9801. Definitions....
- Section id3C6E6B41796A45028F98112F888C0D2A: 9801. Definitions In this chapter: The term appropriate commission means the Commodity Futures Trading Commission or the Securities and Exchange Commission, or...
- Section id598f682894014d2fac8178a7bceab04a: 201. Sense of Congress relating to crypto asset enforcement powers Congress finds the following relating to the authority of the Commodity Futures Trading...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To provide for consumer protection and responsible financial innovation, to bring crypto assets within the regulatory perimeter, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Criminal Justice
Primary Purpose
This bill, To provide for consumer protection and responsible financial innovation, to bring crypto assets within the regulatory perimeter, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Lummis (for herself and Mrs. Gillibrand) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
- "secretary_of_treasury"
- → Secretary of the Treasury
Key Definitions
Terms defined in this bill
the Securities and Exchange Commission and the Commodity Futures Trading Commission, acting jointly. The term covered advertisement— means a communication that— relates to— the desirability of purchasing or entering into a transaction for a crypto asset
the Securities and Exchange Commission and the Commodity Futures Trading Commission, acting jointly. The term covered advertisement— means a communication that— relates to— the desirability of purchasing or entering into a transaction for a crypto asset
a claim represented on a distributed ledger or a similar analogue that is— redeemable, on demand, on a 1-to-1 basis for instruments denominated in United States dollars
a circumstance when a person, directly or indirectly, or acting through or in concert with 1 or more persons— owns, controls, or has the power to vote 25 percent or more of any class of voting securities of a covered depository institution
a crypto asset exchange registered under section 5i. in paragraph (45) (as so redesignated)— in subparagraph (E), by striking and at the end
a claim represented on a distributed ledger or a similar analogue that is— redeemable, on demand, on a 1-to-1 basis for instruments denominated in United States dollars
any person that— is a crypto asset intermediary
any person that— is a crypto asset intermediary
a circumstance when a person, directly or indirectly, or acting through or in concert with 1 or more persons— owns, controls, or has the power to vote 25 percent or more of any class of voting securities of a covered depository institution
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology