U.S. senators meet with major bank CEOs ahead of December vote on cryptocurrency legislation

US senators will meet with leaders of major banks this week as Congress prepares to vote in December on a bill establishing a new regulatory framework for the digital asset market. The discussion comes amid increased legislative activity, as committees finalize oversight mechanisms for cryptocurrencies and develop regulations related to trading, custody, and on-chain financial services.

The Senate Banking Committee and the Senate Agriculture Committee are expected to vote in December and may bring the bill to the full Senate early next year. The bill proposes exemption from registration for certain digital assets if specific conditions are met, but the two committees need to reach agreement before moving forward. Leaders from Citigroup, Bank of America, and Wells Fargo will discuss the impact on financial institutions. If passed by both chambers, the bill will be sent to President Trump for signing.