Coinbase Chief Executive Officer Brian Armstrong said the CLARITY Act is moving closer to the Senate support needed for passage, while Grayscale research chief Zach Pandl said U.S. regulatory clarity is progressing even without the legislation. Both expect Securities and Exchange Commission and Commodity Futures Trading Commission rulemaking to improve the operating environment for crypto markets in 2026 if Congress does not enact the bill. Pandl pointed to ongoing clarification for stablecoins, tokenized securities and regulated perpetual futures. The Senate is scheduled to vote on Sept. 15 on cloture to proceed to H.R. 3633, the Digital Asset Market Clarity Act, rather than on final passage. The House passed its version 294-134 in July 2025, while the Senate procedural vote requires 60 votes.