Coinbase Chief Executive Officer Brian Armstrong urged the US Senate to advance the CLARITY Act by Sept. 15, warning that the United States is an outlier as most G20 countries adopt or develop regulatory frameworks for crypto trading. The bill needs 60 votes to advance after the House passed its version in July. It would establish rules for digital assets and clarify the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC), the US derivatives regulator. If Congress stalls, CFTC Chairman Michael Selig has said the agency could use existing authority to provide greater clarity, including by exploring rules for crypto exchanges to operate under its oversight and legal options for blockchain-based finance. President Donald Trump has also urged Congress to act.