Crypto Regulation Takes Center Stage as Senators Debate Stablecoin Oversight and Anti-Money Laundering Measures

The Senate Banking Subcommittee on Digital Assets held its first hearing on bipartisan legislative frameworks for digital assets, focusing primarily on stablecoin regulation. Lawmakers emphasized the need for tighter anti-money laundering oversight on stablecoin transactions, proposing smart contracts that block unverified users. They also called for a balanced regulatory approach and pushed for clearer digital asset classification. Others criticized excessive government control, questioning why crypto is singled out for regulation.