A recent hearing on the digital asset market structure conducted by the US Senate Banking Committee's subcommittee had a low turnout, with only five out of eleven typically participating senators present due to scheduling conflicts. Subcommittee Chair Cynthia Lummis noted this absence and expressed a desire to ensure bipartisan input on the proposed legislation following the passage of the GENIUS Act. Questions were directed at industry experts, including former CFTC Chair Rostin Behnam, regarding the principles guiding the bill's introduction. The lack of participation raised concerns about whether interests of influential individuals connected to the administration might affect legislative outcomes. Senator Angela Alsobrooks, the sole Democrat present, took the place of another subcommittee member and highlighted previous bipartisan cooperation on crypto legislation. While some Democrats participated in passing the GENIUS Act, there remains contention over possible ties to the president within discussions on related market structure bills. The Senate's proposed legislation follows efforts by the House to advance the CLARITY Act, which is set for floor consideration soon.

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