The Senate hearing on digital assets experienced low attendance. The agenda focused on legislative frameworks for the digital asset market structure.
Senate Subcommittee on Digital Assets
The hearing, conducted by the Senate Banking Committee, only saw five out of eleven members in attendance. Scheduling conflicts with other committees contributed to the sparse turnout. Subcommittee chair Senator Cynthia Lummis emphasized the need for bipartisan involvement in legislative crafting.
Calls for Bipartisan Input
Present at the hearing were senators Dave McCormick, Bill Hagerty, Bernie Moreno, Lummis herself, and Democrat Angela Alsobrooks, who discussed pressing issues with a panel of former regulators and industry experts. Lummis expressed concern over dwindling bipartisanship, stating the importance of adequate input from both sides of the aisle.
Debate Continues Despite GENIUS Act Passage
Despite the GENIUS Act's passage with some Democratic support, further progress in crypto regulation in the Senate may rely on resolving political tensions. Some Democrats voiced concerns about potential favoritism linked to President Trump.
The digital assets hearing revealed the current state of bipartisan debates on regulation, indicating a need for further discussion and clarity in legislation.
