Lummis: The Responsible Financial Innovation Act will allow large banks to offer digital asset custody, staking, and payment services

The proposer of the "Bitcoin Strategic Reserve Act," Chair of the Senate Banking Committee's Digital Assets Subcommittee Cynthia Lummis, stated 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, and incorporating them into a regulated banking system will both protect consumers and unleash growth potential."

According to previous reports, after months of delays, the U.S. Senate Banking Committee may hold a markup meeting on the "Responsible Financial Innovation Act" next week. This move marks a significant breakthrough in the legislative process, which has been slow due to concerns from Democratic lawmakers about decentralized finance and the longest government shutdown in U.S. history.