On July 9, 2025, the Senate Banking Committee, chaired by Senator Tim Scott, held a hearing titled "From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets" focused on comprehensive cryptocurrency market structure legislation. The hearing featured testimony from industry leaders and experts, including Coinbase CEO, who advocated for the passage of the CLARITY Act to provide clear regulatory frameworks for digital assets. Senator Elizabeth Warren expressed conditional support for a bill that protects existing securities laws. Witnesses such as Dan Robinson emphasized the need for legislation to address centralized platforms while safeguarding decentralized finance (DeFi). The hearing marked a notable shift in tone from previous regulatory approaches, with broad acknowledgment among senators that cryptocurrency technology will be central to the future American economy. Senator Scott highlighted the importance of establishing clear and consistent rules for the 52 million Americans involved in the crypto market.