MADISON, WI – After months of negotiations at the State Capitol, Senator Dora Drake and Representative Amaad Rivera-Wagner have introduced the WIN Bill to establish the Office of Financial Technology Innovation to provide cryptocurrency education and grants for entrepreneurs, small businesses, and consumer protection.
“Cryptocurrency is here to stay, and while the ultra-wealthy are utilizing this market to expand their wealth, we need to make sure that Wisconsinites have an opportunity to capitalize on this emerging market, increase financial literacy, and have a piece of the pie. Wisconsin cannot be left behind.” said Senator Dora Drake.
The WIN Bill will establish the Office of Financial Technology Innovation under the Department of Financial Institutions, where it will be responsible for providing public research assessments on emerging financial technology or innovative financial products, including risk assessments for consumer protection, as well as recommendations for further economic development in the market. This legislation will also require the Department of Financial Institutions to conduct a pilot program that includes:
- Education to Wisconsinites on cryptocurrency
- Education and assistance for Wisconsin businesses in implementing cryptocurrency as an accepted method of payment for goods and services
- Provide assistance to entrepreneurs in establishing or growing cryptocurrency-related businesses
“For too long, the wealthy and well-connected have exploited the gaps in crypto regulation while everyday Wisconsinites and small businesses are left in the dark. This bill brings accountability to that imbalance—establishing clear rules, consumer protections, and education to empower the public. We’re laying the groundwork for fair access to emerging financial markets and a future where innovation works for everyone, not just the privileged few.”
The WIN Bill introduction follows the introduction of the bi-partisan GENIUS Act in Congress, highlighting the urgency for Wisconsin to establish this new office, support entrepreneurs and small businesses, increase financial literacy, and protect consumers.
