Sens. Lummis and Gillibrand Statement on White House Digital Asset Framework

September 16, 2022

WASHINGTON, D.C. – Today, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) released the follow statement after the White House released its digital asset framework:

“We are encouraged by the President’s continued interest in urgently implementing rules of the road for digital assets.

In June, we released the bipartisan Lummis-Gillibrand Responsible Financial Innovation Act (S. 4356), the first and only proposal in Congress that addresses all of the key questions facing digital asset regulation in our country. It includes drawing the line between securities and commodities, digital asset market supervision, stablecoin regulation, tax treatment and interagency coordination. President Biden’s framework is a positive step from the administration but it is the job of Congress to make the much-needed regulations to ensure America’s competitiveness and entrepreneurship continue to thrive and protect consumers.

We will continue working together, alongside our colleagues in the Senate and House, to pass Lummis-Gillibrand in the coming months to ensure the United States continues to be the global financial services leader.”