Senator Alsobrooks: Banks Must Compromise as CLARITY Act Markup Nears
Democratic Sen. Angela Alsobrooks, a member of the Senate Banking Committee, told colleagues that banks will probably have to yield on some points as lawmakers prepare to mark up the CLARITY Act by the end of March. The timing indicates the Committee is moving to translate months of drafting and stakeholder discussions into concrete legislative text.
That prospect matters because compromise could unlock broader banking cooperation on custody, payments, and custody-linked services, helping to deliver clearer rules for firms and investors. If enacted, the CLARITY Act aims to reduce regulatory uncertainty and could accelerate institutional participation in crypto, but negotiators will need to balance market integrity, consumer protection, and banks’ risk concerns before final passage.