Senate Banking Committee Chair Sen. Tim Scott (R-S.C.) said that efforts to pass the cryptocurrency market structure legislation are making “real progress,” according to a report published Thursday.

Scott Meets Top Banking Execs

The senior lawmaker met with the CEOs of Bank of America, Citi, and Wells Fargo to discuss the key legislation that aims to create a federal framework for regulating digital assets, reported The Block.

Scott said that “real progress” is being made to pass the bill to establish the U.S. as the world’s “cryptocurrency capital.” He added that lawmakers on the Senate Banking Committee have received “valuable” feedback from the banking and…

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