“The Senate Cryptocurrency Act aims to make tokenized stocks continue to be the focus of the SEC”

The U.S. Senate has issued an updated version of the Responsible Financial Innovation Act of 2025, clarifying that tokenized stocks and securities will continue to be regulated by securities rather than classified as commodities. The bill was initiated by Senator Cynthia Lummis and aims to define regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). A committee vote is expected to be held this month, with a full vote in the Senate as early as November. The bill also includes protections for software developers and non-hosted service providers to address industry concerns about outdated rules stifling innovation. The bill is based on a previous version of the House, but adds provisions such as the bankruptcy rules of digital asset issuers, but still requires bipartisan support to pass.