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Coinbase, Ripple and Goldman Sachs back CLARITY Act as Senate timing slips

Coinbase, Ripple and Goldman Sachs back CLARITY Act as Senate timing slips

Grayscale said the U.S. crypto market-structure bill faces a narrowing two-week window before Congress’s August recess, with odds near 50-50 as ethics disputes threaten to derail momentum.

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Fact Check
Armstrong's primary X post of July 22, 2026 directly confirms every core element: he urged the Senate to bring the CLARITY Act to a floor vote ('ready for a full Senate floor vote'), explicitly called it 'a true bipartisan compromise,' framed it as needed for a federal crypto framework, and cited 'strong consumer protections.' CryptoTimes independently corroborates this. The coincu report supports the overseas-expansion framing referenced in the headline. The claim accurately summarizes Armstrong's statements.
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Summary

Support for the U.S. CLARITY Act has expanded to include Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Goldman Sachs CEO David Solomon, Solana Foundation President Lily Liu, Franklin Templeton digital assets head Sandy Kaul, Senate Banking Committee Chairman Tim Scott and former House Financial Services Committee Chairman Patrick McHenry. McHenry told Bloomberg, "It's a question of WHEN, not IF" the CLARITY Act passes, while White House crypto adviser Patrick Witt said he remains confident the bill can still reach a vote despite Senate leaders signaling that passage before the August recess is increasingly unlikely. Grayscale said in a July 23 report that the bill is entering a critical phase and could be overshadowed by midterm election politics if it does not pass within the next two weeks before Congress leaves for recess, with prediction markets putting the odds of passage near 50-50 amid disputes over ethics provisions. The bill would create a federal framework for digital assets, including the SEC-CFTC oversight split, but lawmakers remain divided over stablecoin rewards, ethics restrictions on senior government officials and other unresolved issues as negotiators seek the 60 votes needed to advance.

Terms & Concepts
  • CLARITY Act: Proposed U.S. legislation designed to create a federal market structure for digital assets and clarify which regulators oversee different parts of the sector.
  • SEC-CFTC oversight split: The division of regulatory responsibility between the Securities and Exchange Commission and the Commodity Futures Trading Commission for digital assets.
  • stablecoin rewards: Benefits or returns offered to stablecoin holders, a policy issue because they can resemble interest-bearing products and affect bank deposits.