US Codex
Bill
Notes

Lummis-Gillibrand Responsible Financial Innovation Act

S. 2281 · 118th Congress · Jul 12, 2023 · Lineage

A BILL

To provide for consumer protection and responsible financial innovation, to bring crypto assets within the regulatory perimeter, and for other purposes.

Section 1 Short title; table of contents

(a)
Short title— This Act may be cited as the “Lummis-Gillibrand Responsible Financial Innovation Act”.
(b)
Table of contents— The table of contents for this Act is as follows:

Sec. 2 Definitions

In this Act:
(1)
Commodity— The term commodity has the meaning given the term in section 1a of the Commodity Exchange Act (7 U.S.C. 1a).
(2)
Crypto asset; crypto asset intermediary; distributed ledger technology; payment stablecoin; smart contract— The terms crypto asset, crypto asset intermediary, distributed ledger technology, payment stablecoin and smart contract have the meanings given the terms in section 9801 of title 31, United States Code, as added by section 101 of this Act.
(3)
Security— Except as otherwise expressly provided, the term security has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).