FOR IMMEDIATE RELEASE: January 29, 2026
CONTACT: Jarice Thompson, jarice@ourfinancialsecurity.org
Statement of Mark Hays, Associate Director of Crypto and Fintech Policy at Americans for Financial Reform on the passage of deregulatory crypto legislation in the Senate Agriculture Committee:
“Democratic Senators stood firm and opposed a dangerous and deeply flawed bill that threatens to destabilize the financial system, harming millions of people, including workers saving for retirement. The sharp partisan outcome demonstrates increasing resistance to the Republican efforts to steamroll lopsided legislation loaded with giveaways to crypto billionaires. Today’s vote shows that the influence and political connections of the crypto industry cannot automatically garner special favor to evade oversight or accountability.
The Democratic Senators’ unanimous rejection of this legislation reiterates the public demand that no crypto bill can advance without prohibiting the crypto corruption and self-enrichment by the President and First Family.
The Senate should reject this legislation which shamelessly fulfills the crypto industry’s wish list without the critically needed meaningful guardrails for people or the economy. We urge Senators to demand fresh legislation that protects investors, consumers, and the financial system as well as bars crypto corruption from government officials, including the President.
Senators must stand up for the public, not buckle to the demands of crypto billionaires and their cronies.”
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