Coinbase CEO: Clarity Act is moving like a bullet train
Coinbase CEO Brian Armstrong is confident the Clarity Act will be passed by year-end. The bill will define the roles of the SEC and CFTC in crypto regulation.
The Clarity Act is designed to clarify the division of authority between the SEC and CFTC in regulating digital assets, particularly tokenized stocks and non-fiat cryptocurrencies. According to Armstrong, clear rules will enable the industry to grow “here in America,” protect consumers, and prevent repeating previous SEC missteps.
During his Washington visit, Armstrong met with senators and representatives from both parties. “The support is strong on both sides. Senate members are ready to see the bill through,” he said in a video message. Senator Cynthia Lummis previously stated that the bill could reach President Donald Trump’s desk by the end of 2025.
The meetings were attended by executives from Ripple, Kraken, Circle and Cardano, as well as investment firms a16z, Paradigm and Multicoin. Kraken’s Arjun Sethi stressed that the law must protect developers and create incentives for building new protocols.
Armstrong added that the banking lobby will not be able to ban yield-bearing stablecoins. An attempt to add such a provision to the GENIUS Act failed, and lawmakers are now committed to preserving opportunities for innovative stablecoin products.
Another major initiative, the Strategic Bitcoin Reserve, is also under discussion. Congress is weighing scenarios under which the government could purchase up to 1M BTC over five years.
The meetings were attended by executives from Ripple, Kraken, Circle and Cardano, as well as investment firms a16z, Paradigm and Multicoin. Kraken’s Arjun Sethi stressed that the law must protect developers and create incentives for building new protocols.
Armstrong added that the banking lobby will not be able to ban yield-bearing stablecoins. An attempt to add such a provision to the GENIUS Act failed, and lawmakers are now committed to preserving opportunities for innovative stablecoin products.
Another major initiative, the Strategic Bitcoin Reserve, is also under discussion. Congress is weighing scenarios under which the government could purchase up to 1M BTC over five years.
Thus, September has become one of the most productive months on Capitol Hill for the crypto industry: the Clarity Act is gaining political momentum, increasing the chances for systemic regulation of the sector in the US.
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