Armstrong Disputes WSJ Blame for CLARITY Act's Failure

Coinbase CEO Brian Armstrong disputed The Wall Street Journal's planned story linking him to the CLARITY Act's failure. He said the newspaper intended to blame him and Coinbase despite his support for the final Senate draft.

The dispute follows the Senate's September 15 procedural vote, which left the crypto market structure bill stalled. Senators voted 49-50 against advancing H.R. 3633, falling 11 votes short of the required threshold.

Armstrong said his January objections targeted four areas: decentralized finance, tokenization, Commodity Futures Trading Commission authority, and stablecoin rewards. He argued that the draft contained provisions that would harm crypto and lacked sufficient support.