The Financial Stability Board (FSB) published its global regulatory framework for crypto-asset activities, with the goal of harmonizing regulations around the broader industry and stablecoins.

Rep. Ritchie Torres (D-NY) wrote a letter to SEC Chair Gary Gensler praising the Ripple decision and criticizing Gensler’s “regulatory assault on the crypto industry.” Sen. Bill Hagerty (R-TN) similarly tweeted to criticize the SEC and advocate for legal clarity in the crypto space.

Reps. Dusty Johnson (R-SD) and French Hill (R-AR) wrote a letter to SEC Chair Gary Gensler condemning his regulatory approach to cryptocurrency and urging him to support legislation the pair will introduce. A bill is expected to be released this week by Reps. Johnson and Hill.

SEC Chair Gary Gensler said he was “disappointed” by the Ripple Labs ruling last week, but that the decision won’t affect the agency’s mission.

The Consumer Financial Protection Bureau announced that CFPB Director Rohit Chopra will begin meeting with the Commissioner for Justice and Consumer Protection for the EU Didier Reynders to discuss the growth of AI in the financial sector and the proliferation of fintech lending products.

Sen. Elizabeth Warren (D-MA) filed language on behalf of herself and Sens. Mark Warner (D-VA), Raphael Warnock (D-GA), Tina Smith (D-MN), Catherine Cortez Masto (D-NV), Dick Durbin (D-IL), Jack Reed (D-RI), and Angus King (I-ME), to append her crypto bill to the NDAA. Warren’s bill, the Digital Asset Sanctions Compliance Enhancement Act, would crack down on Russian use of cryptocurrency by empowering the Treasury Department to block crypto exchanges from performing Russian transactions and require US crypto holders to disclose offshore transactions over $10,000.

The CFTC released a detailed agenda for the Technology Advisory Committee’s meeting on July 18, which will include a discussion of stability and security challenges and regulatory implications for crypto.

Members of the Senate Banking Committee are working on a bipartisan proposal that would target money laundering involving cryptocurrency. In an interview, Sen. Mike Rounds (R-SD) said he is working with Sen. Mark Warner (D-VA) on the legislation.

Following the ruling in SEC v. Ripple Labs, Inc., several lawmakers have called on Congress to pass legislation to regulate crypto and uphold the ruling. Sen. Cynthia Lummis (R-WY) tweeted support for the ruling, and advocated for passage of the Lummis-Gillibrand Responsible Financial Innovation Act. House Majority Whip Tom Emmer (R-MN) also tweeted in support. House Financial Services Chair Patrick McHenry (R-NC) and House Agriculture Chair Glenn Thompson (R-PA) issued a joint statement arguing for legislative clarity.