The U.S. Congress held a hearing on February 26, 2025, titled 'Exploring Bipartisan Legislative Frameworks for Digital Assets,' conducted by the Senate Banking Committee's Digital Assets Subcommittee, chaired by Senator Cynthia Lummis. The hearing focused on the regulation of stablecoins, with Senator Lummis stating that the U.S. is on the verge of establishing a bipartisan legislative framework for both stablecoins and market structure. The GENIUS Act, proposed by Senators Tim Scott, Bill Hagerty, and Kirsten Gillibrand, was highlighted as a potential legislative solution for stablecoin regulation. Witnesses included Lewis Cohen from Cahill Gordon & Reindel LLP, Jonathan Jachym from Kraken, Jai Massari from Lightspark, and Timothy Massad from Harvard University. Their testimonies emphasized the need for clear regulatory guidelines to foster innovation while ensuring consumer protection. Discussions also covered broader digital asset market structure, with former CFTC Chair Timothy Massad suggesting a focus on stablecoin legislation before addressing market structure complexities. This reflects a bipartisan push towards regulatory clarity in the U.S. digital asset space.