A week after the US Senate passed the GENIUS Act to regulate payment stablecoins, discussions are underway for a digital asset market structure framework. On Tuesday, the Senate Banking Committee’s digital asset subcommittee will hear from legal experts at Coinbase and Multicoin Capital to create bipartisan legislative frameworks. Testimonies will be provided by Coinbase’s legal VP, Ryan VanGrack, Multicoin Capital’s general counsel, Greg Xethalis, and Sarah Hammer from the University of Pennsylvania. This hearing marks one of the Senate's initial steps following the GENIUS Act's passage on June 17, which moved to the House for further discussion and potential amendments. While the Senate seeks a bipartisan approach, the House is advancing its own legislation, the Digital Asset Market Clarity (CLARITY) Act, which is expected to be voted on soon. The combined efforts of both bills aim to address regulatory concerns in the crypto industry, although they face opposition from some Democrats regarding potential conflicts of interest. Read more AI-generated news on: https://app.chaingpt.org/news