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Senate Banking Committee Chair Tim Scott Meets Bank Executives to Advance Crypto Legislation

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U.S. Senate Banking Committee Chair Tim Scott met with Bank of America, Citigroup, and Wells Fargo executives to push forward **crypto legislation**. The proposed bill would assign regulatory oversight of digital assets to the SEC and CFTC. Discussions covered yield, DeFi, and AML. The American Bankers Association raised concerns about the GENIUS Act, noting it lacks sufficient limits on stablecoin interest payments, which could distort markets. **Crypto exchange regulations** remain a key focus as lawmakers seek to close regulatory gaps.
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