US Senate to Hear from Top Crypto Leaders as Lawmakers Weigh New Regulations

The United States Senate Banking Committee is preparing for an important hearing on Wednesday that could shape the country’s regulatory approach to digital assets for years to come. The session will feature testimonies from Ripple CEO Brad Garlinghouse, Blockchain Association CEO and former CFTC member Summer Mersinger, Chainalysis CEO Jonathan Levin, and former CFTC Chair Timothy Massad, among others, as lawmakers weigh legislation to clarify crypto market structures. A Critical Inflection Point This hearing marks one of the earliest opportunities for the Senate to signal its stance on a comprehensive crypto market structure bill. Senate leadership has indicated a goal of passing crypto-related legislation by October, a timeline that could set the stage for more defined regulations in a sector that has operated amid uncertainty in the United States. In prepared remarks, Mersinger emphasized the urgency of the moment, stating , “The choice before us is not whether to regulate this industry, but how.” She warned that continued regulatory ambiguity could push crypto innovation abroad while arguing that sensible, bipartisan legislation could cement the US as a global leader in financial technology for decades. The hearing coincides with “Crypto Week” in the House of Representatives, where lawmakers plan to address three pieces of crypto-related legislation. Among these are the GENIUS Act, designed to provide a regulatory framework for stablecoins , and the CLARITY Act, which focuses on defining digital asset market rules. Additionally, lawmakers will consider legislation to halt the development of a US central bank digital currency (CBDC). Trump Ties and Potential Conflicts Garlinghouse’s appearance will be closely watched, given Ripple’s increasing policy activity in Washington. The blockchain company previously donated $5 million worth of XRP to President Donald Trump’s inaugural fund, and Garlinghouse attended a White House crypto summit earlier this year. Adding to the scrutiny, former White House ethics lawyer Richard Painter will testify, highlighting concerns over potential conflicts of interest tied to Trump’s ventures in crypto . The president launched his own memecoin in January and maintains ties to World Liberty Financial, a crypto firm with its stablecoin USD1. Earlier this year, during the initial Senate vote on the GENIUS Act, some Democrats pulled their support over concerns tied to Trump’s crypto activities, though the bill eventually passed. The post US Senate to Hear from Top Crypto Leaders as Lawmakers Weigh New Regulations appeared first on TheCoinrise.com .

Source: The Coin Rise