Coinbase CEO: US Crypto Rules Will Emerge Even If CLARITY Act Fails
Coinbase CEO Brian Armstrong expressed confidence that clearer federal rules for the US crypto industry will emerge, regardless of whether the CLARITY Act passes its Senate test on September 15. If the legislation fails to advance, Armstrong said the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are prepared to publish their own rulemaking.
Armstrong emphasized that negotiations have produced bipartisan compromises, addressing Coinbase's main concerns with earlier versions of the proposal. However, he acknowledged that ethics rules for elected officials remain under negotiation, with both sides appearing close to a solution.
The CLARITY Act would establish a federal market structure for digital assets, dividing oversight between the SEC and CFTC. Tokens treated as securities would fall under the SEC's jurisdiction, while decentralized digital commodities like Bitcoin would be governed by the CFTC. Crypto exchanges, brokers, and other market participants would face federal requirements under the proposed framework.
Armstrong also reiterated his long-term bullish view on Bitcoin, maintaining a $400,000 price target for 2030 and stating that the bottom is in for the current cycle.