Axios hosted a livestream on Tuesday featuring United States Senator Cynthia Lummis, where she teased the cryptocurrency bill that she’s currently writing. The Wyoming Republican said the bill will be introduced as “one big piece so people can see the big picture” and be broken down into five or six components for consideration by the appropriate congressional committees.

The bill, which Lummis is expected to introduce along with New York Democrat Kristin Gillibrand, is designed “so that it works within the traditional framework for managing and regulating traditional assets,” Lummis said. The bill will split cryptocurrency oversight between two agencies: the Commodity Futures Trading Commission and the Securities and Exchange Commission. Oversight of crypto assets will be given to the SEC “when something fits within the Howey Test that makes it a security,” Lummis said, referring to the 1946 Supreme Court decision on the definition of a security.