U.S. Senator: The 'Responsible Financial Innovation Act' Will Allow Large Banks to Offer Digital Asset Custody, Staking, and Payment Services

Odaily News U.S. Senator Cynthia Lummis, Chair of the Senate Banking Subcommittee on Digital Assets, stated in a post on platform X that the U.S. 'Responsible Financial Innovation Act' will allow large banks to provide digital asset custody, staking, and payment services under appropriate regulation. "Digital assets are an integral part of our financial system. Bringing them into the regulated banking system protects consumers and unlocks growth potential." Previously reported, after months of delays, the U.S. Senate Banking Committee may hold a markup session for the 'Responsible Financial Innovation Act' in the second week of January. This move marks a phased breakthrough for this piece of legislation, which has progressed slowly due to Democratic lawmakers' concerns about decentralized finance and the longest federal government shutdown in history.