Senate Bill 951
Creating the Office of Financial Technology Innovation in the Department of Financial Institutions and a cryptocurrency pilot project, granting rule-making authority, and making an appropriation. (FE)
Topics: Business, Data processing, Financial Institutions, Department of
Stopped in committee
It had a but no committee vote, so it never came up for a vote. The last day for votes this session was Mar 19, 2026. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 6, 2026
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Committee, stopped here
Stopped here. It had a hearing but no committee vote.
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Senate vote, not reached
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Assembly vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Mar 23, 2026: “Failed to pass pursuant to ”
It sat with the Senate Committee on Utilities, Technology and Tourism.
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Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
This bill creates the Office of Financial Technology Innovation in the Department of Financial Institutions to support responsible financial innovation in Wisconsin. The bill also requires DFI to conduct a cryptocurrency pilot project that includes grant awards.
Under the bill, the office must assist Wisconsin residents in establishing or expanding businesses offering innovative financial products by 1) providing guidance in understanding and navigating the regulatory process applicable for the business; 2) assisting the business, to the extent practicable, in securing any required license and complying with operational requirements; and 3) coordinating regulatory activities among different DFI divisions or units to streamline the regulatory process and collaborating with other state agencies. However, the office must also consider any risk to the public or consumer protection concern that may be associated with the proposed innovative financial product. An “innovative financial product” is defined as a financial product or service that incorporates new or emerging technology, as applied to the product or service, and that is under DFI’s regulatory jurisdiction. The office may conduct research, and publish its findings, related to emerging financial technology or innovative financial products to identify opportunities and risks associated with the technology or product. The office may also recommend rule changes that would facilitate or promote the development or growth of innovative financial products in Wisconsin. The bill also allows the office to recommend, and requires DFI to grant upon such a recommendation, a waiver of the initial license fee for a business that seeks a DFI-issued license to offer an innovative financial product.
Read the full summary Show less
The bill also requires DFI to conduct a pilot project that includes 1) education of the public on cryptocurrency; 2) education and assistance for the state’s business community in implementing cryptocurrency as an accepted method of payment for goods and services; 3) assistance to the state’s entrepreneurs in establishing or growing cryptocurrency-related businesses; and 4) awarding grants to promote the purposes specified in items 1 to 3. This pilot project ends on July 1, 2030.
Who's behind it
Dora Drake, a Democrat, is its .
1 more lawmaker .
See all 2 names Hide the names
Author (1)
- Dora Drake · Democrat, Senate
Signed on in support (1)
- Amaad Rivera-Wagner · Democrat, Assembly
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
What happened
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Mar 23, 2026
The session ended, and the bill died with it.
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Feb 25, 2026
The committee held a public hearing.
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Feb 19, 2026
A state agency sent in its estimate of the cost.
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Feb 6, 2026
Sent to the Senate Committee on Utilities, Technology and Tourism.
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Feb 6, 2026
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 6, 2026 · Senate
Introduced by Senator Drake; cosponsored by Representative Rivera-Wagner
- Feb 6, 2026 · Senate
Read first time and referred to Committee on Utilities, Technology and Tourism
- Feb 19, 2026 · Senate
Fiscal estimate received
- Feb 25, 2026 · Senate
Public hearing held
- Mar 23, 2026 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate