Overview
- Senators Kirsten Gillibrand and Cynthia Lummis said bipartisan talks have accelerated with a goal to release a draft by the end of the week and hold a markup next week.
- Citigroup’s Jane Fraser, Bank of America’s Brian Moynihan and Wells Fargo’s Charlie Scharf are scheduled for closed-door meetings with senators Thursday to discuss bank permissibility, interest, and illicit‑finance safeguards.
- The White House rejected proposed ethics language restricting elected officials and their families from issuing or profiting from digital assets, and Sen. Lummis said she will revise and resubmit the provision.
- Parallel drafts in the Banking and Agriculture Committees contemplate splitting oversight between the SEC and CFTC, expanding CFTC authority for spot markets, and defining some tokens as “ancillary assets.”
- Key unresolved items include DeFi treatment and conflict‑of‑interest demands from some Democrats, with staff indicating mid‑December committee markups remain tentative.