Coinbase Chief Executive Officer Brian Armstrong rejected what he said was an upcoming Wall Street Journal report blaming him and Coinbase for the Digital Asset Market Clarity Act's failure. In a Sept. 19, 2026, post on X, Armstrong said he opposed an early January Senate Banking Committee draft because it needed changes involving decentralized finance, tokenization, Commodity Futures Trading Commission authority and stablecoin rewards. He said Coinbase and other stakeholders revised all four areas before the Senate Banking Committee advanced an updated version about four months later, and that he strongly supported the final text. The House-passed bill, formally H.R. 3633, would divide digital-asset oversight between the Securities and Exchange Commission and the CFTC, establish a digital commodities category and set rules for intermediaries and tokenization. It failed a Sept. 15 Senate cloture vote on the motion to proceed by 49 to 50, short of the 60 votes required. Armstrong said the Journal's article was still unpublished and accused the newspaper of repeating bank-industry arguments. The bill remains on the Senate calendar, while regulators and lawmakers pursue other routes to establish crypto rules.