🇺🇸 The CEOs of the largest US banks are being summoned to the Senate to discuss the crypto market.

On December 11, the CEOs of Bank of America, Citigroup, and Wells Fargo will meet with senators to discuss the CLARITY bill, which regulates the crypto market.

What bankers are concerned about:

• Preventing interest payments on stablecoins.

• Achieving a level playing field for competition with crypto companies.

• Tightening measures against the use of cryptocurrencies in illegal schemes.

Closed-door negotiations are also ongoing in the Senate regarding who will regulate crypto assets—the SEC or the CFTC.