US Senator: The Responsible Finance Innovation Act will allow large banks to offer digital asset custody, staking, and payment services.
TL;DR
US Senator Cynthia Lummis announced that the Responsible Finance Innovation Act will enable large banks to provide regulated digital asset services like custody and staking, aiming to protect consumers and boost growth. The bill, delayed by political and shutdown issues, may see a Senate revision meeting soon.
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According to Odaily, Senator Cynthia Lummis, Chair of the Senate Subcommittee on Banking and Digital Assets, stated on the X platform that the U.S. Responsible Finance Innovation Act would allow large banks to offer digital asset custody, staking, and payment services under appropriate regulation. "Digital assets are an integral part of our financial system, and incorporating them into a regulated banking system protects consumers and unlocks growth potential." Previously, it was reported that after months of delays, the Senate Banking Committee might hold a revision meeting on the Responsible Finance Innovation Act in the second week of January. This move marks a significant breakthrough in the legislation, which has been slowed by Democratic lawmakers' concerns about decentralized finance and the longest government shutdown in history.