Citi, BofA, and Wells Fargo CEOs to discuss crypto market rules with senators: Report

Source: CryptoNewsNet Original Title: Citi, BofA, and Wells Fargo CEOs to discuss crypto market rules with senators: Report Original Link:

Key Takeaways

• CEOs of three major US banks will meet with senators to discuss ongoing efforts around crypto market structure rules.
• The Senate Banking and Agriculture committees expect to vote on the legislation this month.

The CEOs of Citigroup, Bank of America, and Wells Fargo have been invited to meet with senators this week for discussions focused on crypto market structure legislation as lawmakers work to establish clear rules for digital asset markets.

Senate Banking Committee Chairman Tim Scott said in a statement that the Senate expects to vote on a digital asset market structure bill in December, with potential approval leading to a Senate floor vote early next year.

The legislation, aimed at positioning the US as a global leader in crypto, will require reconciling bills from the Senate Banking and Agriculture Committees, focusing on digital commodities and securities. If passed, these measures will advance to President Trump for signature.