A Senate subcommittee hearing aimed at shaping the future of digital asset regulation saw minimal participation on Tuesday, with only five of the usual eleven members present. The U.S. Senate Banking Committee’s Subcommittee on Digital Assets hosted the hearing, titled “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure.” However, it was largely under-attended due to scheduling conflicts with other congressional committees. Subcommittee chair Senator Cynthia Lummis acknowledged the sparse attendance, noting there were “a lot of competing committees” that day. Still, she stressed the importance of bipartisan involvement in crafting market structure legislation following the Senate’s recent bipartisan passage of the stablecoin-focused GENIUS Act . Calls for Bipartisan Input The senators who did attend—Republicans Dave McCormick, Bill Hagerty, Bernie Moreno, Lummis herself, and Democrat Angela Alsobrooks—questioned a panel of former regulators and crypto industry experts. These included ex-CFTC Chair Rostin Behnam , Coinbase legal VP Ryan VanGrack, Multicoin Capital’s Greg Xethalis, and Wharton School executive Sarah Hammer. Their testimonies focused on the need for regulatory clarity and the risks of delaying comprehensive market structure legislation. Lummis expressed concern over the dwindling bipartisan engagement on crypto matters, stating, “I don’t want to come up with a piece of legislation that the other side of the aisle feels they haven’t had adequate input in.” Alsobrooks, a co-sponsor of the GENIUS Act, was the only Democratic senator at the hearing and was sitting in for ranking member Ruben Gallego. Her presence offered a rare glimpse of bipartisan support, though several lawmakers, including Senator Moreno, questioned why crypto regulation remained a partisan issue. Debate Continues Despite Senate Passage of GENIUS Act Despite passing the GENIUS Act with some Democratic support on June 17, further progress on crypto regulation in the Senate may hinge on resolving political tensions. Some Democrats have raised concerns over potential favoritism tied to President Trump’s alleged links to the industry, suggesting they may not support market structure legislation without additional safeguards. Meanwhile, the House of Representatives has been pushing its own version of crypto regulation through the Digital Asset Market Clarity (CLARITY) Act, which recently advanced out of committee and is likely to face a full House vote in the coming weeks. The post Senate Crypto Hearing Sees Low Attendance, Partisan Tensions Over Market Structure Bill appeared first on TheCoinrise.com .
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