CEOs of Bank of America, Wells Fargo, and Citigroup will meet with U.S. senators to discuss cryptocurrency market legislation

According to Bloomberg, Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser, and Wells Fargo CEO Charlie Scharf plan to meet with bipartisan senators on Thursday to discuss cryptocurrency market legislation that may soon be put to a vote.

The discussion is organized by the Financial Services Forum, a large bank alliance, and is expected to focus on bankers' opposition to allowing interest payments on stablecoins, as well as issues related to banks' competitiveness in the cryptocurrency space and preventing the use of cryptocurrencies for illegal activities. Senators involved in cryptocurrency market structure legislation have been invited to the meeting.