Coinbase Accused of 'Killing' CLARITY Act as Passage Odds Slip

Coinbase has been accused of 'killing' the CLARITY Act by Arca CIO Jeff Dorman, who claims that if it weren't for the exchange's opposition and subsequent January markup flop, the bill would have had enough time to pass.

The CLARITY Act aims to provide clarity on tokenization and other crypto-related issues, but its passage is now uncertain due to unresolved ethics provisions. According to Bernstein analysts, a new round of selling pressure in the crypto market is expected if the bill stalls.

Coinbase has distanced itself from the claims, with Kara Calvert, VP of U.S. Policy, stating that the bill 'is vastly improved today' after addressing some of the exchange's concerns.