US Senator Lummis Supports Open Banking Rules, Emphasizes Importance of Digital Assets

Jinse Finance reported that U.S. Senator Cynthia Lummis supports open banking rules and emphasizes the importance of digital assets. She sent a letter to the CFPB, urging that the rules remain unchanged. The rules allow consumers to own their financial data and securely share it with fintech companies, digital asset exchanges, and third-party services. Lummis warned that without clear rules, large banks might restrict access to digital asset platforms and other innovative financial services; therefore, the rules help safeguard space for innovation. Lummis also pointed out that hindering innovation would weaken the U.S.'s leadership in fintech.