The CLARITY Act faces a Senate dispute over rules for vertically integrated crypto companies before a September 15 procedural vote requiring 60 votes to begin formal debate on the market-structure bill. Coinbase CEO Brian Armstrong has renewed his support for the legislation, saying concerns previously deemed non-negotiable by Coinbase have been resolved and that the measure could provide a framework for institutional investment, tokenized equities and perpetual contracts in the United States. Armstrong said law-enforcement groups, banks and crypto companies were backing the bill after hundreds of pages of input from Republicans and Democrats. Negotiations continue over ethics provisions covering digital-asset holdings and projects linked to elected officials, including President Donald Trump. Democrats have sought additional measures, including divestiture, while Armstrong said the White House proposal contains strong ethics provisions and that the issue is close to resolution. The bill would allocate digital-asset oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission, establish classifications for digital assets, and set registration, customer-asset segregation and anti-money-laundering requirements for covered intermediaries. Grayscale said substantive cryptocurrency-regulation discussions are expected to continue regardless of the vote's outcome, citing policymakers' work with Kalshi, Coinbase and potentially Hyperliquid on frameworks for stablecoins, token issuance, security tokens and perpetual futures. Armstrong said agency rules could provide an alternative if Congress remains deadlocked. Armstrong also said the GENIUS Act helped more than 150 large companies integrate stablecoins within three months of its passage. He reiterated that Bitcoin could reach $400,000 by 2030 and said the current downturn may have reached its bottom, citing the timing of the next halving and previous market cycles.