CLARITY Act Nears Finish Line as Coinbase's Armstrong Urges Senate Vote

Coinbase CEO Brian Armstrong is urging lawmakers to hold a Senate vote on the CLARITY Act, which he believes will strengthen consumer protections and expand law enforcement tools in the cryptocurrency industry.

Armstrong argued that the bipartisan proposal has spent thousands of hours developing a true compromise and should be completed without further delays. He used a football metaphor, saying 'The CLARITY Act is at the one-yard line,' implying it's extremely close to advancing.

The CEO emphasized that the legislation would bring new consumer protections, establish a federal framework for the digital asset industry, and strengthen power for law enforcement. The status quo, he noted, lacks any federal laws protecting consumers or helping the industry get built in the United States.

As the Senate calendar grows tighter before the midterms, political pressure surrounding the CLARITY Act has intensified. Supporters continue pressing for passage as institutional backing widens, with Blackrock, Fidelity Investments, Charles Schwab, and Goldman Sachs CEO David Solomon urging Congress to approve a federal market structure framework.