President Trump signed the GENIUS Act into law the following day. Ahead of the annual August recess, Senate Banking Committee Chairman Tim Scott (R-SC), along with Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN) and Bernie Moreno (R-OH), released a discussion draft of the Responsible Financial Innovation Act on July 22. This draft proposes an alternative approach to classifying digital assets, building on the CLARITY Act to encourage innovation and regulatory clarity….
By: Akin Gump Strauss Hauer & Feld LLP
By: Akin Gump Strauss Hauer & Feld LLP
