Six Prominent Digital Asset Leaders to Testify Before Senate Banking Committee

Washington D.C. – Dan Robinson, General Partner at crypto investment firm Paradigm, is slated to testify before the U.S. Senate Banking Committee today, July 9, 2025, to advocate for the protection of decentralized finance (DeFi) within forthcoming market structure legislation. Robinson's appearance is part of a broader hearing titled "From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets," taking place at 10:15 AM in Dirksen Senate Office Building 538. His testimony will emphasize the importance of safeguarding DeFi's innovative potential amidst evolving regulatory frameworks.

Robinson highlighted his intent to discuss the crucial role of DeFi in the digital asset ecosystem, stating in a tweet, "I'll be talking about why it's important to protect DeFi as part of any market structure bill." Decentralized finance operates on blockchain technology, aiming to remove traditional financial intermediaries and offer open, transparent financial services. Industry stakeholders argue that regulatory clarity is essential to foster innovation in this rapidly developing sector.

The hearing features a distinguished panel of six witnesses from the digital asset space and academia. Alongside Robinson, other key figures include Brad Garlinghouse, CEO of Ripple; Summer Mersinger, CEO of the Blockchain Association; Jonathan Levin, CEO of Chainalysis; Timothy Massad, former CFTC Chairman; and Richard Painter, Professor of Corporate Law at the University of Minnesota. These leaders are expected to collectively address the urgent need for comprehensive and clear crypto market structure legislation in the United States.

Discussions will likely revolve around ongoing legislative efforts, including the CLARITY Act and the GENIUS Act, which aim to establish regulatory boundaries for digital assets. A central point of contention in these discussions is often the jurisdictional authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over various digital assets. Industry representatives consistently call for a unified and consistent regulatory approach to prevent fragmentation and foster a competitive environment.

The testimonies are anticipated to shape the Senate's approach to finalizing a regulatory framework that balances consumer protection with innovation. As the U.S. seeks to solidify its position in the global digital asset landscape, the insights provided by these industry leaders are critical for lawmakers drafting future legislation. The hearing underscores a concerted effort by Congress to address the complexities of digital asset markets and provide much-needed regulatory certainty.