Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

The United States Senate Committee on Housing, Banking, and Urban Affairs is set to hold a hearing on Tuesday, June 24 featuring heavyweights witnesses from the crypto sector.

According to the committee’s website, the hearing entitled “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure” will take place Tuesday at 3:00 p.m. on Capitol Hill.

Speakers at the key crypto hearing Sarah Hammer, Executive Director of 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.

The @BankingGOP is aiming to put out principles (aka an overview of core ideas/values) for its market structure bill at some point either later today or tomorrow, ahead of tomorrow’s subcommittee hearing on the matter. https://t.co/BuVBcZkSwm

According to Crypto In America reporter Eleanor Terrett, Senate Banking, Housing and Urban Affairs Republicans are even slated to introduce “principles” of a market structure bill ahead of tomorrow’s hearing.

News of the committee hearing comes just one week after the Senate passed the GENIUS Act in a sweeping 68-30 vote.

“Today is a bold step forward – not just for financial innovation, but for American leadership, consumer protection, and economic opportunity,” Chairman Tim Scott (R-SC) said.

“With the GENIUS Act, we’re bringing clarity to a sector that’s been clouded by uncertainty and proving that bipartisan, principled leadership can still deliver real results for the American people,” he added.

Following the GENIUS Act’s Senate approval, Senator Cynthia Lummis (R-WY) encouraged U.S. lawmakers to advance coinciding legislation that would help broaden the crypto sector’s overall reach stateside.

“The success of the GENIUS Act hinges on comprehensive market structure legislation that protects consumers, establishes transparency, and creates clearly defined trading regulations,” Lummis said. “Congress must act quickly.”

Lummis indicated that members of Congress were already working on such legislation “in earnest,” with Senate hearings on the matter in the coming weeks.

The GENIUS Act now heads to the House of Representatives for approval.

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