On June 7, 2022, Wyoming Senator Cynthia Lummis and New York Senator Kirsten Gillibrand introduced the Lummis-Gillibrand Responsible Financial Innovation Act, the first comprehensive bill introduced to govern digital assets (see our post summarizing the key provisions in the bill here). In the Debevoise Fintech Blog’s first official webcast, our banking and fintech experts, Alison Hashmall and Gary Murphy, discuss the bill with Chris Land, General Counsel for Senator Cynthia Lummis, and Arjun Ghosh, Finance Counsel to Senator Kirsten Gillibrand. Topics covered include:
- CFTC authority vs. SEC authority
- Stablecoin
- Federal Reserve access
- Custody
- Money transmission
- Taxation
- Legislative process and next steps
All materials referenced in this program are linked below.
Speakers
- Chris Land, General Counsel, Senator Cynthia Lummis
- Arjun Ghosh, Finance Counsel, Senator Kirsten Gillibrand
- Alison Hashmall, Counsel, Debevoise & Plimpton
- Gary Murphy, Counsel, Debevoise & Plimpton
Chris Land can be contacted at Chris_Land@lummis.senate.gov
Arjun Ghosh can be contacted at Arjun_Ghosh@gillibrand.senate.gov
The summary of the bill’s organization, referenced by Arjun Ghosh, can be found on Senator Gillibrand’s website here.
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We would like to give a special thanks to our associate Jonathan Steinberg and legal assistant Allison Barone for their contributions to this webcast.
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