The U.S. Senate will hold a hearing this Wednesday on establishing a digital asset regulatory framework

BlockBeats News, July 7th, according to cryptoinamerica, this Wednesday the Senate Banking Committee will hold a hearing on establishing a $30 trillion digital asset industry regulatory framework, and is expected to release a discussion draft of market structure reform proposals later this week. The draft will incorporate provisions from the 2023 Lumis-Gillibrand Responsible Financial Innovation Act and draw on relevant provisions of the recently introduced CLARITY Act in the House.

The hearing and draft release are in line with the committee's goal of introducing market structure legislation before the August recess. The Senate Agriculture Committee, responsible for regulating the Commodity Futures Trading Commission, will also play a key role in market structure legislation and is expected to hold a special hearing soon.