Many Senators Absent from Bipartisan Hearing on Crypto Market Structure

PANews June 25 news, according to Cointelegraph, at the hearing on "Exploring the Bipartisan Legislative Framework for Digital Asset Market Structure" on Tuesday, several members of the Digital Asset Subcommittee of the U.S. Senate Banking Committee were absent. Chairman Cynthia Lummis said that the day's schedule "had many committee meetings conflicting", resulting in only 5 of the 11 senators who were supposed to attend to ask questions. Lummis realized that the participation was insufficient and said she did not want the bill to be considered by the other party as lacking sufficient participation. She expressed confusion about the current state of bipartisan cooperation, speculating that it might be because some members of the new government's families were involved in digital assets, causing concerns about some people gaining advantages.

The Senate’s proposed market structure legislation follows efforts by the House of Representatives to pass the CLARITY Act, which passed committee in June and is expected to be considered by the floor soon.