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U.S. Senators and bank executives discuss and say there has been "substantial progress" in cryptocurrency legislation
Gold Financial Report, according to informed sources, bipartisan senators in the US Senate met with multiple Wall Street bank executives this week to discuss the Crypto Asset Market Structure Act. Senate Banking Committee Chairman Tim Scott stated that Congress is making "substantial progress" toward passing this comprehensive crypto market regulation bill, aiming to solidify the US's position as the "Global Crypto Capital."
On that day, Scott discussed the bill's contents with US Bank CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf, including how to delineate between the SEC and CFTC.