Maryland State Delegate Adrian Boafo and New York Assemblyman Clyde Vanel believe that fragmented state policies on cryptocurrency could be riskier, urging for a federal policy on the crypto industry.

On March 17, the two legislators sent a joint letter to Senators Elizabeth Warren (D-MA), Amy Klobuchar (D-MN), Maxine Waters (D-CA-43), and Angie Craig (D-MN-2). The legislators pointed to the influx of state-level crypto laws, with at least 35 states already proposing laws surrounding digital assets.

The legislators are sure that without federal oversight, business uncertainty and limited financial opportunities in the U.S. could stifle innovation. “While state legislatures are stepping in to address regulatory gaps, the absence of a clear federal framework has left consumers and businesses navigating a confusing patchwork of laws,” reads the letter.

The statement is made as Republicans seek federal regulations on crypto, along with stablecoin legislation and a market structure bill pitched after President Donald Trump said the U.S. should take the lead on the next generation of financial technologies.

As Democratic support for pro-crypto policies rises, Boafo and Vanel worry that influential crypto detractors such as Warren and Waters could still impede bipartisan progress. “As state legislators, we appreciate the complexities of regulating digital assets. Nonetheless, the demand for sensible, bipartisan cryptocurrency regulation has never been greater,” the legislators said in the letter.

The letter also states, "Democrats have long led the way in advancing progressive technology policies—from net neutrality to expanding broadband access—and now, with 18 million consumers and the digital financial market at stake, we must ensure the same level of leadership in digital finance by establishing a comprehensive, bipartisan regulatory framework that safeguards consumers, supports responsible innovation, and solidifies America’s position as a global leader in the digital economy."