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Maryland Democrat says bipartisan crypto legislation is close

Maryland Democrat says bipartisan crypto legislation is close

Sen. Angela Alsobrooks says the CLARITY Act is nearing agreement but still faces ethics, illicit-finance, stablecoin-yield and committee disputes as Galaxy Digital cuts 2026 passage odds to 60% amid a tightening Senate calendar.

Fact Check
The CoinDesk article 'Alsobrooks says Clarity Act needs ethics deal before Senate vote' directly supports the claim's headline and substantive details about ethics and illicit finance concerns. FinTech Weekly and Troutman corroborate Alsobrooks's negotiating role and the outstanding ethics/AML/DeFi issues, while CoinDesk's May 14 liveblog confirms Lummis's push to advance the bill, consistent with French Hill and Lummis pressing for passage.
Summary

Bipartisan U.S. crypto legislation appears to be nearing agreement, but Sen. Angela Alsobrooks of Maryland said she will not support the CLARITY Act until lawmakers resolve disputes over ethics provisions, anti-money-laundering or illicit-finance language, stablecoin yield and Agriculture Committee details. Galaxy Digital head of research Alex Thorn lowered his estimate of the bill's odds of becoming law in 2026 to 60% from 75%, saying the change reflects scheduling pressure rather than collapsing support as the Senate's legislative window tightens before recess. The bill, which passed the Senate Banking Committee on May 14 in a 15-9 vote, remains a central crypto industry priority because it would set a federal market-structure framework for digital assets and clarify oversight between the SEC and CFTC. Supporters including Congressman French Hill and Sen. Cynthia Lummis continue to press for passage, while JPMorgan analysts led by Nikolaos Panigirtzoglou also warned that election timing could delay progress.

Terms & Concepts
  • CLARITY Act: Proposed U.S. crypto market-structure legislation aimed at creating a federal framework for digital assets and clarifying how they are regulated.
  • stablecoin yield: Interest-like rewards or other returns paid on stablecoin balances, a contested issue between banks and crypto firms.
  • market structure: The framework that determines how crypto markets operate and which regulators oversee different activities.