Coinbase CEO Presses Senate to Pass CLARITY Act This Week

Coinbase CEO Brian Armstrong has urged senators to approve the CLARITY Act this week. The legislation would bring more crypto businesses under U.S. oversight while expanding consumer protections, law enforcement authority, and banking opportunities.

The updated CLARITY Act combines work from the Senate Banking and Agriculture committees and establishes regulatory responsibilities for the SEC and CFTC. It also creates registration standards for exchanges, brokers, dealers, custodians, and other intermediaries, alongside customer protection, disclosure, and market oversight requirements.

Armstrong described the bill as a 'one-yard line' after years of negotiations among lawmakers, regulators, and industry participants. He argued that it would support American jobs, tax revenue, and innovation.