In June, a bipartisan bill was introduced in the Senate to take its place among the sundry other congressional attempts to define, regulate, or exclude from regulation the $2 trillion cryptocurrency market. Titled “The Responsible Financial Innovation Act,” the bill targets a great many things but gives little indication of unique advancement in Congress. Nonetheless, its very breadth invites scrutiny as a start down the road of possible legislative cure for a wildly volatile and perplexing cyberspace market.

Accordingly, this article shall summarize the proposed legislation, analyze its most tantalizing parts, and conclude with a brief scorecard of pending initiatives.

Bill Survey

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