Coinbase CEO Pushes CLARITY Act Ahead of September 15 Vote

Coinbase CEO Brian Armstrong is advocating for the CLARITY Act ahead of a key Senate procedural vote on September 15. The bill, which would establish a federal framework for digital assets, has stalled in the Senate and needs to pass before the end of the year.

Armstrong says that 'most banks realize that's not a threat, it's an opportunity' and that the bill offers clear rules for crypto companies. He pointed out that the House passed the bill in July 2025 by a 294-134 vote, but it stalled in the Senate due to disagreements over ethics provisions.

Major banks have expressed support for clear digital-asset rules but have also warned about stablecoin provisions, which they say would allow interest-like payments and threaten local lending. The banking industry's posture on the bill is more contested than Armstrong implies, with some groups warning that the stablecoin provisions could divert deposits.

Armstrong has argued that clearer US rules are coming regardless of the vote's outcome, pointing to passage of the CLARITY Act or new rules from federal market regulators if the legislation stalls. The Senate returns on September 14, and the cloture vote is scheduled for September 15.