Lawmakers Push Crypto Regulation as Digital Assets Hit $4tn

US lawmakers intensified calls for crypto regulation as the global digital assets market cap topped $4 trillion. In a Senate Agriculture Committee hearing, Senators Lummis and Gillibrand backed bipartisan legislation to define digital assets, assign oversight of spot markets to the CFTC, and draw a clear line between securities and commodities. Regulatory chiefs – SEC Chair Gary Gensler, CFTC Chair Rostin Behnam and Treasury Secretary Janet Yellen – urged detailed rules to protect investors and spur innovation. The bill also proposes a tailored stablecoin framework and standards for decentralized finance. Following the hearing, Bitcoin (BTC) and Ethereum (ETH) each rallied over 5%. Industry leaders argue that legal certainty and streamlined crypto regulation will attract firms, boost transparency and strengthen the US’s edge over Europe and Asia.