Coinbase CEO Says Crypto Momentum Continues Despite Delayed Congressional Vote
Coinbase CEO Brian Armstrong expressed disappointment over the Senate's failure to advance the CLARITY Act, but emphasized that crypto adoption continues despite the delay. The bill aims to establish a federal framework for digital assets and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The latest draft includes a CFTC-led framework for digital commodities and rules for qualified digital asset custodians. Stablecoins are also addressed, with restrictions on interest or yield payments for holding these assets, but activity-based rewards connected to payments could remain permitted.
Armstrong noted that regulators are providing more clarity as companies expand stablecoin use and markets for perpetual futures and tokenized real-world assets grow. He said more consumers are using crypto despite the delayed congressional vote, stating 'The momentum behind this technology keeps growing with or without a congressional calendar.'