Armstrong says crypto clarity is coming regardless of Sept. 15 CLARITY Act vote

  • Brian Armstrong said U.S. crypto markets will gain regulatory clarity regardless of the CLARITY Act vote.
  • The Senate is scheduled to vote on the legislation Sept. 15.
  • Armstrong said Coinbase’s previously raised issues were resolved, while ethics negotiations continued.

Coinbase Chief Executive Officer Brian Armstrong said the U.S. cryptocurrency industry will obtain regulatory clarity regardless of the Senate’s Sept. 15 vote on the CLARITY Act. He said the Securities and Exchange Commission and Commodity Futures Trading Commission are prepared to begin rulemaking, potentially delivering clarity by Sept. 15 or within a few days afterward. The bill would define the agencies’ oversight of digital assets and establish federal rules for exchanges, brokers and other market participants. Armstrong said bipartisan negotiations had incorporated hundreds of pages of feedback and resolved Coinbase’s earlier concerns, although talks continued over ethics rules for elected officials’ crypto holdings. He also said Goldman Sachs, BNY Mellon and Fidelity support the bill, while arguing that some banking-industry criticism of stablecoin provisions reflects competitive interests. Armstrong described $400,000 Bitcoin by 2030 as a reasonable target and said Bitcoin had already reached its bottom in the current cycle.

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