U.S. Senate Hearing on Digital Assets Faces Low Attendance

According to PANews, a recent U.S. Senate hearing on the bipartisan legislative framework for digital asset market structure saw low attendance from committee members. The hearing, held on Tuesday, was organized by the Senate Banking Committee's Subcommittee on Digital Assets. Chair Cynthia Lummis noted that scheduling conflicts with other committee meetings resulted in only five out of the expected eleven senators attending the session. Lummis expressed concern over the lack of participation, emphasizing the importance of bipartisan involvement in the legislative process. She speculated that the current state of cooperation might be affected by some members of the new administration having family ties to the digital asset sector, potentially leading to concerns about certain individuals gaining an advantage. The proposed Senate legislation on market structure follows the House's efforts to pass the CLARITY Act. This act was approved by a committee in June and is anticipated to be put to a full vote soon.