Bank CEOs Expected to Meet Senators on Crypto Market Structure

Bank of America Corp. chief executive officer Brian Moynihan, Citigroup Inc. CEO Jane Fraser and Wells Fargo & Co. CEO Charlie Scharf are scheduled to meet with senators in both parties on Thursday to discuss crypto market legislation that could soon come to a vote, according to a person familiar with the plans.

The discussions, organized by the Financial Services Forum, an alliance of large banks, are expected to focus on bankers’ opposition to allowing interest payments on stablecoins, along with the ability of banks to compete in the crypto space and preventing use of cryptocurrencies to facilitate illegal activities.