U.S. Senate Banking Committee Chair Discusses Cryptocurrency 'Clarity Act' with Banking Executives

On the 11th, Tim Scott, the Republican Chair of the U.S. Senate Banking Committee, reported progress in discussions with banking executives regarding the 'Clarity Act', a legislative proposal aimed at defining the market structure of digital assets (cryptocurrencies).

After meetings with Brian Moynihan of Bank of America, Jane Fraser of Citibank, and Charlie Scharf of Wells Fargo, Senator Scott stated the following:

'We are making steady progress towards the enactment of the Digital Asset Market Structure Act, which will solidify America's role as the global hub for cryptocurrencies.'

Over the past several months...