In an effort to modernize and better protect against digital threats, US Senators are working on amending a cybersecurity bill to include provisions for cryptocurrencies.

The original bill, titled the Cybersecurity Enhancement Act of 2015, was introduced in the Senate in March of 2015. It proposed measures to bolster the country’s cyber infrastructure and defenses against attacks. The bill was passed by the Senate in December of that year, but has yet to be enacted. 

Now, with the rise of cryptocurrencies and blockchain technology, Senators are looking to update the bill to include these new developments. In particular, they aim to add provisions that would help protect against the theft or manipulation of digital currencies. 

“As digital currencies have become more popular, so have the threats to their security,” said Senator Mark Warner, a Virginia Democrat who is spearheading the effort to amend the bill. “We need to make sure that our laws and regulations keep pace with the evolving threats to our financial system.” 

Warner is working with a bipartisan group of Senators, including James Lankford of Oklahoma and Amy Klobuchar of Minnesota, on the revisions to the bill. The group is also said to be in talks with the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to ensure that any new regulations are in line with those agencies’ authority. 

The Senators hope to have the revised bill ready for a vote by the end of the year. If passed, it would be the first time that cryptocurrencies are specifically mentioned in US legislation. The move comes as other countries are also taking steps to regulate the burgeoning crypto industry. Japan recently enacted a law recognizing Bitcoin as a legal form of payment, while China has cracked down on exchanges and initial coin offerings (ICOs). 

The US has taken a more hands-off approach to regulation so far, but that may change if the new bill is enacted. It remains to be seen how the crypto community will react to the proposed regulations, but many are likely to welcome them as a sign that the US is taking the industry seriously.