Coinbase CEO Backs CLARITY Act Ahead of September 15 Senate Vote
Coinbase CEO Brian Armstrong has expressed his support for the CLARITY Act ahead of its Senate vote on September 15. He believes that the bill could provide a clearer framework for US crypto markets and attract institutional capital.
Armstrong pointed to various groups, including law enforcement organizations and banks, that have backed the bill. He also mentioned that his company had previously raised concerns about the legislation but now feels that those issues have been addressed.
The CLARITY Act has been filed with cloture by Senate Majority Leader John Thune, setting September 15 as the date for a procedural vote. The measure requires 60 votes to pass, which means Republicans cannot succeed without at least seven Democratic or independent votes.
Armstrong emphasized that regulatory clarity is crucial for institutional adoption and cited the example of the GENIUS Act, which led to over 150 companies integrating stablecoins within three months after its passage. He believes that CLARITY could have a similar effect, creating a 'checkbox' for institutional investors and paving the way for tokenized equities and perpetual contracts in the US.