Landmark Digital Assets Bill Advances Out of Senate Banking Committee

Posted by Ryan Fitzgerald on May 14, 2026

Landmark legislation that would establish a regulatory framework for digital assets and cryptocurrency advanced out of the Senate Banking Committee with bipartisan support, early on Thursday. Despite stakeholder negotiations still to be resolved on key issues like interest-like yield offerings, ethics rules for government officials, and broader law enforcement access to exchanges, lawmakers on the committee reached an initial agreement on this priority legislation of both the White House and several members of Congress, passing 15-9, including support of all three GoWest delegation members.

Sens. Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) voted to advance the bill, but made statements indicating the bill will need more work on ethics provisions, law enforcement access, yield, and consumer disclosures in order to get their support on the Senate floor.

GoWest remains focused on working with Sen. Gallego and Sen. Cynthia Lummis (R-WY) who are directly negotiating the bill language to ensure we keep credit unions at the table with the same market access, permissibility, and deposit protections as other financial institutions.

Posted in Advocacy on the Move, Federal Advocacy.