The US digital asset regulation has once again sent a key signal. Cynthia Lummis, a Republican senator from Wyoming and a long-time supporter of the crypto industry, posted on the social media platform X today (1st) to announce the "Responsible Finance Innovation Act," which is expected to be introduced in 2026. This act will allow major banks to provide digital asset custody, pledging, and payment services under appropriate supervision, indicating that US lawmakers are accelerating the integration of digital assets into the mainstream financial system.
In her post, Lummis pointed out that digital assets have become an indispensable part of the US financial system, and operating within a regulated banking system would not only help strengthen consumer protection but also unleash the industry's growth potential. She emphasized that the core spirit of the bill is "innovation under regulation," rather than allowing the market to develop in a disorderly manner.
What is the Responsible Finance Innovation Act of 2026?
The so-called "Responsible Financial Innovation Act of 2026" (RFIA 2026) is a new legislative proposal announced by Lummis at the end of 2025. This bill follows the versions she co-introduced with Democratic Senator Kirsten Gillibrand in 2022 and 2023. Although the previous bills failed to pass, they laid an important foundation for establishing a comprehensive regulatory framework for digital assets in the United States.
Compared to the previous version, the new RFIA 2026 has been adjusted to address current market developments and regulatory needs. Its goal is to complement the "Clarity Act on Digital Asset Markets," which was passed by the House of Representatives this year, and together fill long-standing regulatory gray areas. One key focus is the clear distinction between which digital assets are securities and which are commodities, placing them under the supervision of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) respectively, thus resolving long-standing disputes over the responsibilities and powers between industry and regulatory agencies.
Furthermore, the bill allows large banks to participate in digital asset-related businesses, including custody, staking, and payment services, under strict supervision and compliance requirements, thereby formally integrating crypto assets into the traditional banking system. Legislators believe this move will help improve consumer protection, prevent financial crime, attract more institutional investment, and promote innovation and economic growth.
Based on currently available information, RFIA 2026 may also include regulations requiring stablecoins to have 100% reserves, anti-money laundering measures, and related risk management, attempting to strike a balance between encouraging innovation and maintaining financial stability. However, the bill is currently still in the proposal announcement stage and has not yet been formally submitted to Congress or obtained a bill number.
However, Lummis stated that she will actively push for the bill in 2026, hoping to complete a key piece of the puzzle in the US federal-level digital asset regulatory framework before the end of her senator term. If the bill is successfully passed, it is widely believed that this will become the first comprehensive cryptocurrency regulation in the United States, and could have a profound impact on the long-term adoption and development of Bitcoin and other digital assets.
