Coinbase CEO Predicts Federal Crypto Rules Will Come Regardless of Senate Vote

Coinbase CEO Brian Armstrong says that even if the Senate fails to pass the CLARITY Act, federal crypto rules are coming. The legislation aims to establish a clear market structure for digital assets and clarify the roles of the SEC and CFTC.

Armstrong believes the bill has enough support to move forward and expects senators he's spoken with to be on board. He says that if it doesn't pass, the SEC and CFTC are ready to publish rulemaking, providing regulatory clarity either way.

The CLARITY Act would set up a federal market structure for digital assets, establishing rules for their oversight. It has already passed in the House and advanced in the Senate Banking Committee by a 15-9 vote.

Armstrong says negotiations over ethics provisions are ongoing but appear close to a solution. He describes passage of the legislation as a 'regulatory checkbox' that could clear the way for greater institutional participation and products, including tokenized equities.