Citigroup, Bank of America, and Wells Fargo CEOs will meet senators Thursday to discuss crypto market structure as regulatory uncertainty persists following CBDC ban removal from NDAA.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
Citigroup CEO Jane Fraser, Bank of America CEO Brian Moynihan and Wells Fargo CEO Charlie Scharf are scheduled to meet senators on Thursday for a closed-door discussion on crypto market structure legislation.
News: A trio of big bank CEOs will meet with senators this week to discuss crypto market structure legislation. Citigroup CEO Jane Fraser, Bank of America CEO Brian Moynihan and Wells Fargo CEO Charlie Scharf are expected to sit down with senators on Thursday.
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Punchbowl News’ The Vault team, which tracks financial policy in Washington, circulated details of the invitation in an X post on Monday. He described the imminent meeting as part of a broader effort for banks, regulators, lawmakers and key stakeholders to deliberate on ongoing regulatory proposals.
On Sunday, Semafor congressional reporter Eleanor Mueller mentioned that the provision for the United States government to launch a Central Bank Digital Currency (CBDC) is no longer in the draft, while responding to the new NDAA package deal published by Politico defense reporter Connor O’Brien.
The absence of the CBDC ban adds further relevance to Thursday’s session, with senators expected to press bank leaders on how traditional financial institutions intend to navigate a regulatory landscape that remains unsettled.
The US enacted landmark GENIUS act in July 2025, creating a framework for stablecoin regulations in the country. However, lawmakers continue to debate how banks should handle digital-asset custody, the supervision of stablecoin reserves and the role the Federal Reserve should play in tokenized-market infrastructure.
Bitcoin BTC $90 849 24h volatility: 0.3% Market cap: $1.81 T Vol. 24h: $48.27 B held near $90,000 as the policy backdrop developed. Coinglass data shows futures volumes rising 34.36 percent to $90.87 billion while open interest increased just 0.19 percent to $57.94 billion. The long-short ratio eased to 0.9873, reflecting a slight tilt toward short exposure.
Bitcoin (BTC) Derivatives Market Analysis | Source: Coinglass
The imbalance between volume spike and mild increase in open interest indicates that most activity came from intraday rotations rather than conviction-driven positioning, suggesting traders prefer to await clarity from Washington as the week unfolds before placing larger directional bets.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
