Only five US senators out of the 11 typically on the digital assets subcommittee were available to ask questions about a potential market structure bill. Many members of the US Senate Banking Committee’s subcommittee on digital assets were not present for a hearing to discuss market structure. In a Tuesday hearing, “exploring bipartisan legislative frameworks for digital asset market structure,” the subcommittee chair, Cynthia Lummis, said there had been “a lot of competing committees” on the schedule for the day, which may have explained why only five senators out of the 11 typically on the subcommittee were available to ask questions to former regulators and industry experts. Republican senators Dave McCormick, Bill Hagerty and Bernie Moreno joined Lummis, another Republican, and Senator Angela Alsobrooks to ask questions of former US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase’s vice president of legal, Ryan VanGrack, Multicoin Capital’s general counsel, Greg Xethalis and University...
Rising institutional interest in crypto may include the settlement sector, especially stablecoins, which have seen a 55.5% growth in market cap in one year. FalconX, a digital asset prime brokerage that says it has executed over $1.5 trillion in trading volume, has joined Crypto.com, Galaxy, Wintermute and others as a launch partner for Lynq, a platform that aims to be a settlement layer for digital asset and financial institutions. The launch of Lynq could underscore growing institutional interest in digital assets as regulatory clarity improves. FalconX, which says it access to over 400 tokens, will “act as both a participant and a liquidity provider on the Lynq network,” Lynq CEO Jerald David told Cointelegraph. Lynq, developed in partnership with Arca Labs, Tassat Group and tZERO Group, aims to provide a solution that deals with evolving regulatory frameworks and counterparty risk, according to a Tuesday announcement. Those issues may be important to institutions that adhere to strict regulations and are ...