Important points
- The CEOs of the three largest U.S. banks will meet with senators to discuss continued efforts on cryptocurrency market structure rules.
- The Senate Banking and Agriculture Committees are scheduled to vote on the bill later this month.
Lawmakers are working to establish clear rules for digital asset markets, with the CEOs of Citigroup, Bank of America, and Wells Fargo invited to a meeting with senators this week for a discussion focused on a virtual currency market structure bill, Punchbowl News reported.
Senate Banking Committee Chairman Tim Scott said in a statement that the Senate is scheduled to vote on the Digital Asset Market Structure Act in December, with the possibility of approval leading to a vote in the full Senate early next year.
The bill aims to position the U.S. as a global leader in cryptocurrencies and requires coordinating bills from the Senate Banking Committee and Agriculture Committee that focus on digital products and securities. If passed, these measures would need to be signed by President Trump.
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