The Maryland Democrat states bipartisan crypto legislation is nearly complete, but issues surrounding ethics and illicit finance must be resolved.
By AI Boost|Edited by Jennifer Sanasie Jun 5, 2026, 3:05 p.m. 2 min readMake preferred onLatest developments: Senator Angela Alsobrooks announced that she will withhold her support for the Clarity Act on the Senate floor unless there is a consensus on ethics provisions and other unresolved matters.
- She highlighted that ethics issues remain a significant hurdle, alongside illicit finance considerations and ongoing work required by the Agriculture Committee.
- Alsobrooks characterized her committee vote as an endorsement for ongoing bipartisan discussions rather than an unconditional approval of the bill's final version.
- "We're almost there, but not quite there yet," she remarked regarding the negotiations.
- Alsobrooks appeared alongside Rebecca Rettig and Renato Mariotti on CoinDesk's The Policy Protocol.
The compromise: Alsobrooks defended the stablecoin yield provisions that have faced criticism from JPMorgan Chase CEO Jamie Dimon and various banking sector representatives.
- She noted that she was one of the first senators to express concerns that permitting interest-bearing stablecoins could lead to deposit depletion in community banks.
- Alsobrooks mentioned that negotiators spent about nine months developing language that prohibits crypto companies from offering yield solely on stablecoin holdings and prevents them from providing products that resemble bank accounts without appropriate protections.
- She contended that the final compromise achieves a balance between fostering industry innovation and safeguarding consumer and banking interests, even if it does not fully satisfy either side.
Why it matters: Alsobrooks framed the regulation of cryptocurrencies as a necessary response to increasing consumer engagement rather than a speculative future policy discussion.
- She pointed out that millions of Americans currently own cryptocurrencies and emphasized the duty of lawmakers to implement consumer protections.
- Alsobrooks argued that digital assets present a significant economic opportunity that many younger Americans feel is essential, especially as traditional wealth-building avenues become less accessible.
- Her aim is to ensure that the U.S. maintains its position as a leader in digital asset innovation while also protecting consumers from potential risks.
Reading between the lines: Alsobrooks suggested that the skepticism among Democrats towards crypto legislation is less about the technology itself and more about ethical concerns, corruption, and fraud.
- She cited worries related to President Trump's business dealings and broader ethical questions within the digital asset landscape.
- Many lawmakers remain focused on preventing scams and enhancing protections for consumers who have already faced losses.
- Alsobrooks believes that staying engaged in negotiations is crucial for ensuring that constituents can influence the final regulations.
What comes next: The senator outlined essential priorities to advance the legislation.
- Negotiators need to finalize ethics provisions that are acceptable to both parties.
- Lawmakers are still addressing illicit finance language advocated by Senator Catherine Cortez Masto.
- A bipartisan agreement from the Agriculture Committee is necessary before the Senate can proceed with final consideration of the bill.
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