Coinbase CEO Predicts Clearer Crypto Rules in US Despite Senate Vote Uncertainty

Coinbase CEO Brian Armstrong believes that the US crypto industry is heading toward clearer federal rules, regardless of whether the Senate passes the CLARITY Act. The legislation aims to establish a federal market structure for digital assets and clarify the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).

Armstrong pointed out that work is already underway at the SEC and CFTC, with both agencies ready to publish rulemaking. He said that even if the Senate vote fails on September 15th, regulatory clarity will still be achieved.

The Digital Asset Market CLARITY Act has enough support to move forward, according to Armstrong, who has spoken with senators about the measure. He noted that roughly half of Coinbase's revenue comes from trading, and the company is expanding beyond its core business through its 'Everything Exchange' strategy.