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Governments and regulators have struggled to keep pace as new digital asset classes and other blockchain applications have risen to prominence. This regulatory uncertainty has caused confusion in the markets and impeded greater adoption of distributed ledger technologies in the United States. However, on June 7, 2022, US Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Responsible Financial Innovation Act (RFIA), the first major piece of US federal legislation to provide a reasonably comprehensive regulatory framework for digital assets. This article discusses the most significant provisions of the RFIA.

This article was originally published on the website of Winston & Strawn LLP on June 9, 2022.

Authors: Daniel T. Stabile, Kimberly A. Prior, and Gabriela Ana Plasencia

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Region: United States
The information in any resource collected in this virtual library should not be construed as legal advice or legal opinion on specific facts and should not be considered representative of the views of its authors, its sponsors, and/or ACC. These resources are not intended as a definitive statement on the subject addressed. Rather, they are intended to serve as a tool providing practical advice and references for the busy in-house practitioner and other readers.
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