Catenaa, Tuesday, February 25, 2025-The US Senate Banking Committee, led by Sen. Cynthia Lummis, will hold a hearing tomorrow, Wednesday February 26 to debate bipartisan cryptocurrency legislation, marking a renewed effort to establish clear regulations in the digital asset sector.1
The session, titled “Exploring Bipartisan Legislative Frameworks for Digital Assets,” will include industry experts, lawmakers and legal professionals.
The hearing will examine key topics such as market structure, stablecoin regulations and the potential establishment of a US strategic Bitcoin reserve.
Among those set to testify are Lewis Cohen, partner at Cahill Gordon & Reindel LLP; Jonathan Jachym, deputy general counsel at Kraken; and Jai Massari, chief legal officer at Lightspark. Additional witnesses may be added before the hearing.
Sen. Tim Scott, the committee’s new chair, has voiced strong support for fostering innovation in the crypto sector while ensuring regulatory oversight. This comes amid increased scrutiny on digital assets following legal disputes between the Securities and Exchange Commission and major crypto firms, including Coinbase.
Reports indicate the Senate Banking Committee is also forming its first-ever cryptocurrency subcommittee, with Lummis expected to lead. The move follows similar efforts in the House Financial Services Committee, which launched its own crypto-focused subcommittee in 2023.
The hearing will be webcast live, with accessibility services available upon request. Lawmakers hope the discussions will provide a foundation for future digital asset regulations, positioning the U.S. as a global leader in crypto policy.
- banking.senate.gov: https://www.banking.senate.gov/hearings/exploring-bipartisan-legislative-frameworks-for-digital-assets[↩]
