Washington, D.C. — U.S. Senator Cynthia Lummis (R-WY) led the inaugural Digital Assets Subcommittee hearing where witnesses expressed the need for Congress to provide a clear regulatory framework for digital assets to promote growth and maintain our nation’s reputation as a global leader in financial innovation.
“We have come a long way since I was elected to the Senate in 2020, when many of the members of this body were still trying to wrap their heads around what a bitcoin is, what a stablecoin is, and why the Howey test is important,” said Lummis. “We are on the precipice of finally creating a bipartisan legislative framework for both stablecoins and market structure. I am hopeful that we can get both pieces of legislation to President Trump for his signature this year.”
Members heard testimony from Lewis Cohen, a partner at Cahill, Gordon & Reindel; Jonathan Jachym, Deputy General Counsel and Global Head of Policy with Kraken Digital Asset Exchange; Jai Massari, Chief Legal Officer at Lightspark and Tim Massad, Research Fellow at Harvard University and former Chair of the Commodity Futures Trading Commission (CFTC) where they outlined the need for Congress to act swiftly to provide regulatory clarity.
A full video of her remarks can be found here.
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