In brief
- Republicans and Democrats alike expressed concern about a crypto market structure bill during a Senate Banking Committee hearing Wednesday.
- Sen. John Kennedy (R-LA) was skeptical about allowing the crypto industry to write its own rules, saying that when Congress allowed tech giants to do the same, the result looked “like somebody knocked over a urine sample.”
- Senate Democrats spent much of the hearing highlighting what they saw as loopholes in the House’s CLARITY Act, which is poised to see a vote in that chamber next week.
Senators from both parties raised concerns about a crypto market structure bill during a hearing of the Senate Banking Committee Wednesday—with even a staunch Trump ally expressing worry about allowing…
Jul 09 2025
