CLARITY Act Ready for Senate Vote as Crypto Industry Seeks Clarity

Coinbase CEO Brian Armstrong said that the Digital Asset Market Clarity Act (CLARITY Act) is ready for a full Senate floor vote, signaling passage within weeks. The bill aims to provide a clear rulebook for US crypto firms and has been months in the making.

Armstrong noted that the lack of federal regulation has driven much of the industry overseas and allowed bad actors like FTX to hurt US customers. He commended Stand With Crypto members, a Coinbase-backed advocacy group, for mobilizing 950,000 contacts to lobby lawmakers.

Coinbase also scored a regulatory win against the SEC and FDIC, with the agencies releasing records and settling under Freedom of Information Act requests after being sued by the company. The settlements are among the largest FOIA awards in each agency's history.