CEOs of some of the largest banks in the US are about to meet with lawmakers on Capitol Hill as a key Senate Committee prepares to vote on major Bitcoin and crypto legislation.
The Senate Banking and Agriculture Committees are preparing to vote on a digital asset market structure bill this month.
And ahead of the vote, the CEOs of Bank of America, Wells Fargo and Citi will meet with Senators of both parties to weigh in on the legislation, reports Punchbowl.
The bill aims to establish a clear regulatory framework for digital commodities by defining their classification.
The legislation currently assigns oversight primarily to the Commodity Futures Trading Commission for spot markets while maintaining Securities and Exchange Commission jurisdiction over securities, and providing exemptions, registration pathways and protections to foster innovation and consumer safety.
Banks have historically opposed crypto assets, citing potential risks to financial stability, regulatory compliance challenges and concerns over volatility and illicit activities.
However, the resistance is softening amid a wave of regulatory changes, including the withdrawal of restrictive US guidance and adjustments to bank crypto exposure rules, which offer clearer pathways and reduced barriers for institutional involvement in the sector.
Multiple US banks are now diving into stablecoins to various extents, including Bank of America, Wells Fargo, Citigroup, JPMorgan Chase and Goldman Sachs.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Bank of America, Wells Fargo and Citi CEOs To Discuss New Bitcoin and Crypto Bill With Lawmakers on Capitol Hill: Report appeared first on The Daily Hodl.
​ CEOs of some of the largest banks in the US are about to meet with lawmakers on Capitol Hill as a key Senate Committee prepares to vote on major Bitcoin and crypto legislation. The Senate Banking and Agriculture Committees are preparing to vote on a digital asset market structure bill this month. And ahead of
The post Bank of America, Wells Fargo and Citi CEOs To Discuss New Bitcoin and Crypto Bill With Lawmakers on Capitol Hill: Report appeared first on The Daily Hodl. Altcoins, Bitcoin, Fintech, bank of america, bill, Chase, Citigroup, congress, Crypto, digital asset market structure bill, goldman sachs, JPMorgan, JPMorgan Chase, lawmakers, News, senate, wells fargoÂ
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.