Coinbase CEO Sees Crypto Regulation Advancing Despite Clarity Act Vote
Coinbase CEO Brian Armstrong believes that crypto regulation will advance regardless of the Clarity Act vote, which is set to take place on September 15.
Armstrong thinks the legislation has broad support from crypto firms, law-enforcement groups, and several banks, and is likely to pass in the Senate.
Even if the Clarity Act doesn't make it through the Senate with the required 60 votes, Armstrong remains optimistic that regulatory clarity will still be achieved. He points out that both the SEC and CFTC have announced plans to publish rulemaking on September 15 or shortly thereafter.
The Clarity Act aims to establish a federal framework for digital assets, defining oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Armstrong sees its passage as a 'regulatory checkbox' that could help unlock institutional capital and pave the way for products such as tokenized equities in the US.