US senators to discuss crypto market structure bill today

U.S. senators are scheduled to hold a bipartisan meeting today to continue discussions on a cryptocurrency market structure bill, according to Eleanor Terrett. Later in the afternoon, representatives from major corporations will attend a separate meeting on the bill at the White House. Additionally, the CEOs of Bank of America, Citi, and Wells Fargo are set to meet with senators to discuss several key issues, including potential limits on interest payments by affiliates of stablecoin issuers. The discussions center on the CLARITY Act, which aims to establish a regulatory framework for the crypto industry by delineating the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). A core provision of the bill would exempt cryptocurrencies that meet specific criteria from the registration requirements of the Securities Act of 1933.