Warren Targets GOP ‘Handouts’ as Crypto Standards Unveiled

* Proposed framework targets financial stability, investor protection, and anti-money laundering measures. * Senate Banking Committee hearing explores market structure bills and stablecoin regulation. On July 9, 2025, *The Block* reported that Senator Elizabeth Warren unveiled aggressive cryptocurrency regulations and denounced GOP-backed “industry handouts” during a U.S. Senate Banking Committee hearing. At the hearing, titled "From Wall Street to Web3: Building Tomorrow's Digital Asset Markets," Warren alleged her Republican colleagues prioritize weaker regulations to benefit the crypto industry. The event focused on market structure bills and stablecoin regulation amid intensifying legislative efforts on Capitol Hill. During the hearing, Warren also raised concerns about what she called "the president's crypto corruption," proposing legislation to prohibit public officials from issuing, profiting from, or endorsing cryptocurrency tokens. Her proposed framework outlines key principles to strengthen oversight of the digital asset sector, including enforcing securities laws, safeguarding investors, ensuring financial system stability, and implementing comprehensive anti-money laundering provisions. The senator emphasized that stringent measures are necessary to prevent illegal activity and maintain public trust in financial markets. Notable figures from the blockchain and cryptocurrency sectors testified at the Senate Banking Committee hearing. Witnesses included Ripple CEO Brad Garlinghouse, Blockchain Association CEO Summer Mersinger, and Chainalysis co-founder Jonathan Levin. In his prepared remarks, Garlinghouse advocated for a regulatory approach that balances consumer protection and accountability with fostering industry innovation. Meanwhile, ongoing cryptocurrency-related legislation in the House of Representatives is paving the way for complementary efforts in the Senate. The House has advanced the Clarity Act, a bill that defines the regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for digital assets. Lawmakers will further examine the Clarity Act and the Senate-passed GENIUS Act for stablecoin regulation during "Crypto Week" later in July. These legislative developments could significantly impact market activity. As of 16:09 UTC on July 9, key digital assets showed varied performance: * OFFICIAL TRUMP (TRUMP) was trading at $8.75, with a 2.652% increase in 24-hour trading volume. * Ripple USD (RLUSD) was trading at $1.00, with a 0.003% decrease in 24-hour trading volume. * World Liberty Financial USD (USD1) was trading at $1.00, with a 0.003% increase in 24-hour trading volume.