Sens. Cynthia Lummis and Kirsten Gillibrand on the Responsible Financial Innovation Act

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 14 June 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, NEAR and FTX US. Today on “The Breakdown,” Sens. Cynthia Lummis and Kirsten Gillibrand join NLW to discuss their recently released Responsible Financial Innovation Act. They discuss: How Senator Gillibrand came to be interested in the topic. How “ancillary assets” came to be defined for digital assets. The bill’s approach to investor protections. Stablecoins vs CBDCs. And much more. Find our guests on Twitter: @SenLummis @SenGillibrand - Nexo is an all-in-one platform where you can buy crypto with a bank card and earn up to 16% interest on your assets. On the platform you can also swap 300+ market pairs and borrow against your crypto from 0% APR. Sign up at nexo.io by June 30 and receive up to $150 in BTC. - NEAR is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at NEAR.org. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Rob Mitchell/CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, near an FtX, and produced and distributed by CoinDesk.
0:24.6	What's going on, guys? It is Monday,
0:31.4	June 13th, and oh boy, do I have something exciting for you guys today. This episode, as our last few have been, was recorded during Consensus at the CoinDesk podcast studio, which was presented
0:36.3	by Oak Network. Thanks to Oak for their
0:38.7	support. Before we get into this conversation, however, if you are enjoying the breakdown, please
0:43.3	go subscribe to it, give it a rating, give it a review, or if you want to dig deeper into the
0:47.5	conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to
0:51.9	bit.ly slash breakdown pod.
0:59.9	On today's show, I am joined by Senator Cynthia Lummis and Senator Kirsten Gillibrand.
1:05.2	Senator Lumas is a Republican senator from Wyoming, who is a longtime Bitcoin advocate and who sits on the Senate Banking Committee.
1:07.2	Senator Kirsten Gillibrand is a Democratic senator from New York and sits on the Senate
1:11.1	Ag Committee, which oversees the CFTC, as well as the Intelligence Committee, which is more
1:15.6	relevant than you might think for this particular conversation. Last week, Senators
1:19.6	Lummussen-Jillibrand introduced the Responsible Financial Innovation Act, which represents easily
1:24.4	the most comprehensive, thoughtful, balanced, and forward-looking approach
1:28.2	to U.S. crypto and digital asset regulation to date. I gave a full first reaction to that last week,
1:33.1	which you can go and listen to. On today's show, we discussed the bill, bipartisanship on the
1:37.9	digital asset space, and what happens next. All right, senators, welcome to The Breakdown.
1:45.0	Thank you so much for being here and making time.
1:47.0	I really appreciate it.
	...

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