Only five US senators out of the 11 typically on the digital assets subcommittee were available to ask questions about a potential market structure bill.
Many members of the US Senate Banking Committee’s subcommittee on digital assets were not present for a hearing to discuss market structure.
In a Tuesday hearing, “exploring bipartisan legislative frameworks for digital asset market structure,” the subcommittee chair, Cynthia Lummis, said there had been “a lot of competing committees” on the schedule for the day, which may have explained why only five senators out of the 11 typically on the subcommittee were available to ask questions to former regulators and industry experts.
Republican senators Dave McCormick, Bill Hagerty and Bernie Moreno joined Lummis, another Republican, and Senator Angela Alsobrooks to ask questions of former US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase’s vice president of legal, Ryan VanGrack, Multicoin Capital’s general counsel, Greg Xethalis and University of Pennsylvania Wharton School Executive Director, Sarah Hammer.
