Coinbase CEO Sees Clarity Act as Regulatory Milestone, Expects Bitcoin Growth

Coinbase CEO Brian Armstrong expressed confidence that the Clarity Act will pass the Senate vote on September 15, bringing regulatory clarity to the industry. He noted that banks, law enforcement groups, and crypto companies all endorse the bill. If it doesn't pass, Armstrong said the SEC and CFTC have stated they're ready to publish rulemaking, which would provide clarity either way.

The Clarity Act is seen as a regulatory checkbox that could unlock institutional capital and pave the way for tokenized equities in the US. Armstrong called this a 'big milestone' for the industry. He expects the passage of the bill to have significant benefits, including the growth of stablecoin payments on Base, which are growing 700% year over year.

Armstrong also commented on Bitcoin, stating that he believes the cycle bottom is already in. He expects Bitcoin to trend higher over the coming year or two as the next halving event approaches. The Coinbase CEO noted that crypto broadly is much bigger than Bitcoin alone, with other areas such as stablecoin payments and prediction markets growing rapidly.