Coinbase CEO: Crypto Regulation Will Proceed Regardless of CLARITY Act Vote Outcome

Coinbase CEO Brian Armstrong believes that even if the CLARITY Act fails to pass in the Senate, regulatory clarity for the crypto industry will still be achieved. He pointed out that regulators have plans in place to move forward with their own rules, which would provide a clear framework for the industry.

Armstrong emphasized that passage of the bill would be a welcome outcome, but he remains optimistic about its prospects despite concerns from some lawmakers. The bill aims to share oversight of digital assets between the SEC and the CFTC, and Armstrong highlighted the broad backing it has received from crypto companies, banks, and law enforcement groups.

The unresolved ethics provisions for elected officials remain a sticking point in the CLARITY Act. Armstrong noted that negotiators appear close to resolving this issue, which has been flagged as a key requirement by some lawmakers. He also expressed his confidence in Bitcoin's price prospects, maintaining that $400,000 is still a reasonable target by 2030.