Coinbase Prepares for CLARITY Act Failure with Regulatory Plan B

Coinbase has a plan B in case the CLARITY Act fails to pass. The company's Chief Financial Officer, Alesia Haas, said that they could pursue new crypto products and services through U.S. regulators.

This plan relies on existing powers of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). In March, the SEC issued an interpretation covering crypto classifications, investment contracts, and protocol staking, which was joined by the CFTC under existing law.

Coinbase can expand its customer access through derivatives, tokenized assets, and staking without awaiting the bill. However, each of these areas has separate routes and requires compliance with specific regulations.

The Senate vote on the CLARITY Act is scheduled for September 15, which needs 60 votes to advance. A setback would leave Coinbase pursuing its agency route while delaying the legislative certainty that executives associate with faster adoption.