US senator tells bankers compromise is inevitable for Clarity Act

At the American Bankers Association (ABA) Summit in Washington, Senator Angela Alsobrooks said some compromise will be inevitable to pass the crypto market structure legislation known as the Clarity Act, according to Eleanor Terrett, host of 'Crypto in America.' The senator stated that perfection should not be the enemy of the good in getting the bill passed, frankly admitting that all parties involved would likely leave the negotiating table somewhat dissatisfied. Alsobrooks said she believes the compromise she has been working on with Representative Tom Tillis is designed to prevent deposit flight while simultaneously supporting innovation.