Media: CEOs of Major U.S. Banks to Discuss Crypto Market Structure With Senators

• CEOs of major banks will meet with U.S. senators to discuss the bill on the structure of the crypto market.
• Key topics include stablecoins, regulatory delineation and the risks of illegal activity.
• Banks fear competition from crypto platforms offering interest on these assets.

On December 11, 2025, the heads of the largest banks in the United States will hold a meeting with senators and discuss the bill to regulate the crypto market, writes Bloomberg. The event will be held in a closed format.

Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser and Wells Fargo CEO Charlie Scharf will attend the meeting. The event itself is organized by the Financial Services Forum, an association of the country’s largest banks.

According to the source, the discussions will touch on the practice of cryptocurrency exchanges paying interest on stablecoins. In addition, will touch on its potential impact on traditional bank deposits.

The authors of the material write that financial institutions raise the question that attractive yields on stablecoins can become a serious competitor to bank products. Previously, representatives of the sector have repeatedly warned that such offers of crypto platforms can lead to an outflow of client funds and require clear supervisory rules.

The meeting is also expected to touch on the separation of powers between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The senators are discussing the criteria by which crypto assets would fall under the jurisdiction of one of the regulators, as well as approaches to ensuring transparency and preventing illegal use of digital assets.

According to Bloomberg, Democratic Party negotiators, including Senators Mark Warner and Kirsten Gillibrand, have noted the progress of the discussions, but the timeline for completion remains uncertain. Senate Banking Committee Chairman Tim Scott’s plan to hold a vote as early as next week is looking increasingly unlikely.

That said, the cryptocurrency industry remains an active participant in the political process. Experts estimate that political committees supporting crypto projects have raised more than $263 million, reinforcing the industry’s presence on Capitol Hill and in the White House.