On June 7, 2022, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Responsible Financial Innovation Act (the "Bill"), which proposes a regulatory framework for digital assets across nine titles calling for "Responsible" activity in taxation, consumer protection, and securities, commodities, payments, and banking innovation. The proposed legislation is a comprehensive attempt to bring stability to a rapidly growing and often volatile industry.