Senate Holds Hearing on Digital Asset Market Structure

The United States Senate Committee on Housing, Banking, and Urban Affairs is scheduled to hold a significant hearing on Tuesday, June 24, featuring prominent witnesses from the crypto sector. The hearing, titled “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure,” is set to begin at 3:00 p.m. on Capitol Hill. This event comes just one week after the Senate passed the landmark GENIUS Act in a 68-30 vote, marking a pivotal moment in the regulation of digital assets.
Key industry leaders and former regulators are slated to testify at the hearing. The speakers include Sarah Hammer, Executive Director of the University of Pennsylvania Wharton School, Ryan VanGrack, Coinbase’s Vice President of Legal, Greg Xethalis, General Counsel for Multicoin Capital, and Former Chairman of the U.S. Commodity Futures Trading Commission Rostin Benham. Their testimonies will provide valuable insights into the future of the U.S. market structure for digital assets.
Senate Banking, Housing and Urban Affairs Republicans are expected to introduce “principles” of a market structure bill ahead of the hearing. These principles will outline core ideas and values for the proposed legislation, setting the stage for a comprehensive regulatory framework. Senator Cynthia Lummis (R-WY) has encouraged lawmakers to advance legislation that would broaden the crypto sector’s reach, emphasizing the need for consumer protection, transparency, and clearly defined trading regulations.
Lummis indicated that members of Congress are already working on such legislation “in earnest,” with Senate hearings on the matter scheduled in the coming weeks. The GENIUS Act, which aims to bring clarity to the digital asset sector, now heads to the House of Representatives for approval. This hearing is a critical step in establishing a bipartisan approach to regulating digital assets, ensuring that the U.S. remains a leader in financial innovation while protecting consumers and promoting economic opportunity.
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