Coinbase CEO Says CLARITY Act Will Bring Benefits Either Way

Coinbase CEO Brian Armstrong is optimistic about the prospects of the CLARITY Act passing in the Senate. Speaking on CNBC, he said that regardless of the outcome of the September 15 vote, the crypto industry will still benefit from increased regulation. If passed, the bill would provide formal legislation, while a failed vote would prompt the SEC and CFTC to step up their rule-making efforts.

Armstrong emphasized that the bill is 'ready' for a yes vote, with senators he has spoken to expressing support. However, he noted that one key area of focus remains: ethics rules governing government officials who hold digital assets.