The U.S. Senate advances major cryptocurrency legislation

According to BlockBeats, U.S. Senate Banking Committee Chairman Tim Scott announced significant progress in pushing a comprehensive cryptocurrency bill into law after a meeting with top bank CEOs. On Thursday, Scott met with Brian Moynihan of Bank of America, Jane Fraser of Citigroup, and Charlie Scharf of Wells Fargo to discuss this historic legislation. The proposed bill aims to establish regulatory guidelines for the digital asset industry and empower agencies like the SEC and CFTC. This week, three bank CEOs are expected to meet with senators to discuss further the legislative proposal for cryptocurrencies. Meetings are being held separately with Democrats and Republicans, both of which are described as "friendly."