coin-img-ETHETH+1.41%coin-img-BTCBTC+2.44%coin-img-UCNUCN+0.23%coin-img-SOLSOL+4.81%coin-img-XRPXRP+1.18%coin-img-USDCUSDC+0.01%coin-img-ADAADA-2.43%coin-img-DOGEDOGE+1.31%coin-img-ETHETH+1.41%coin-img-BTCBTC+2.44%coin-img-UCNUCN+0.23%coin-img-SOLSOL+4.81%coin-img-XRPXRP+1.18%coin-img-USDCUSDC+0.01%coin-img-ADAADA-2.43%coin-img-DOGEDOGE+1.31%coin-img-ETHETH+1.41%coin-img-BTCBTC+2.44%coin-img-UCNUCN+0.23%coin-img-SOLSOL+4.81%coin-img-XRPXRP+1.18%coin-img-USDCUSDC+0.01%coin-img-ADAADA-2.43%coin-img-DOGEDOGE+1.31%coin-img-ETHETH+1.41%coin-img-BTCBTC+2.44%coin-img-UCNUCN+0.23%coin-img-SOLSOL+4.81%coin-img-XRPXRP+1.18%coin-img-USDCUSDC+0.01%coin-img-ADAADA-2.43%coin-img-DOGEDOGE+1.31%

US Senate Banking Chairman Reports 'Substantial Progress' on Digital Asset Legislation After CEO Meetings

U.S. Senate Banking Committee Chairman Tim Scott announced on December 12 that "substantial progress" has been achieved in advancing a significant cryptocurrency bill. This follows productive meetings held on Thursday with prominent banking CEOs, including Brian Moynihan of Bank of America, Jane Fraser of Citigroup, and Charlie Scharf of Wells Fargo. The proposed legislation seeks to establish clear regulatory frameworks for the digital asset industry, granting specific powers to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Discussions, which included both Democratic and Republican senators, covered critical areas such as yield, decentralized finance (DeFi), and anti-money laundering (AML) protocols. Banking associations have voiced concerns regarding perceived loopholes in the recently enacted GENIUS Act, particularly concerning stablecoin interest payments and potential market distortions.
Selected
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.