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U.S. Senators and bank executives discuss and say there has been "substantial progress" in cryptocurrency legislation
Gold Financial reported that, according to informed sources, bipartisan senators in the US Senate met separately this week with several Wall Street bank executives to discuss the cryptocurrency asset market structure bill. Senate Banking Committee Chairman Tim Scott stated that Congress is making “substantial progress” toward passing this comprehensive cryptocurrency market regulation bill, with the goal of consolidating the US’s position as the “global crypto capital.”
On that day, Scott discussed the bill with US Bank CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf, including topics such as delineating regulatory authority between the SEC and CFTC. Informed sources said the meetings were “friendly,” covering issues like yield products, DeFi regulation, and anti-money laundering.