Senator Lummis advocates for US regulators to finalize open banking rules supporting cryptocurrency

On October 22, 2024, the CFPB finalized the open banking rule, enabling consumers to securely share financial data with crypto platforms. Despite challenges from banks, the rule is crucial for fostering innovation in the digital asset space.

Lummis warns that banks are using their power to restrict access to digital assets for political reasons, hindering consumer access and innovation in financial services.