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Coinbase CEO Sees Strong Bipartisan Momentum for US Crypto Market Bill
- Armstrong says the CLARITY Act could pass with bipartisan Senate support.
- The Act defines SEC and CFTC oversight of non-stablecoin digital assets and is expected for public review after committee discussions.
- Senator Lummis expects Trump to sign the CLARITY Act before the end of the year.
Brian Armstrong, CEO of Coinbase, has said the Digital Asset Market CLARITY Act could soon pass into law following what he described as strong bipartisan support in the US Senate.
The legislation would provide a clear framework for how federal agencies, including the SEC and CFTC, regulate the crypto sector, particularly non-stablecoin assets such as tokenised stocks. Armstrong said the measure is essential to ensure the US remains a hub for digital asset innovation while safeguarding consumers.
After meetings in Washington, Armstrong explained that senators from both major parties expressed readiness to finalise the draft and move it forward for public review. He noted that he had “never been more bullish” on the bill’s prospects, describing it as gaining unstoppable momentum.
Armstrong also commented on the banking industry’s unsuccessful push to restrict stablecoin interest. He recalled that similar lobbying efforts in the GENIUS Act failed and stressed that such moves should not be allowed to undermine innovation in digital finance.
Related: Tether Eyes US Institutional Launch Following GENIUS Act Approval
Optimism for Passage
Senator Cynthia Lummis has also predicted the legislation could be enacted before year’s end, with President Donald Trump signing it once passed. She explained that the Senate Banking Committee and Agriculture Committee will each review the measure in the coming months as part of the approval process.
Industry participation in Washington included leaders from Ripple, Circle, Kraken and Cardano, as well as investors from a16z, Paradigm and Multicoin Capital. Kraken’s CEO Arjun Sethi emphasised that new rules must protect the freedom of developers to build tools such as tokenised equities, commodities and utilities, rather than reinforcing advantages for incumbents.
The week also saw discussions on the proposed BITCOIN Act, introduced by Senator Lummis. This initiative calls for the US government to acquire one million Bitcoin over five years through budget-neutral strategies, an idea advanced by Bitcoin advocates including Strategy chairman Michael Saylor.
Related: Strategy Strikes Again: Saylor’s Firm Adds 525 Bitcoin to Company Pile
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
