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.
Senators involved in crypto market structure legislation were invited to meet.
Bipartisan negotiators have been working behind closed doors for weeks to resolve differences on how to prevent crypto assets from being a haven for illegal activity. They are also working to define when crypto assets will be regulated by the Commodity Futures Trading Commission or the Securities and Exchange Commission.
Banks have for months raised concerns about the payment of interest or rewards on stablecoins by crypto exchanges, given the potential competitive threat to traditional bank deposits.
Punchbowl News first reported the bank CEOs' planned discussions with senators.
Senate Banking Chairman Tim Scott has sought to hold a vote on the legislation in his committee as soon as next week, but final passage on the Senate floor won't happen this year. The Senate Agriculture Committee, which has oversight of the CFTC, has also been negotiating its portion of the bill.
Democratic negotiators including Senator Mark Warner of Virginia and Kirsten Gillibrand of New York have told Bloomberg progress has been made in the talks, but declined to put a timetable on when talks would conclude.
Crypto companies have won many allies in both parties on Capitol Hill and in the White House, fueled in part by a torrent of campaign spending. Crypto-aligned super political action committees already have raised
