Coinbase Prepares for CLARITY Act Stall with Agency Rulemaking Backup Plan

Coinbase has a backup plan if Congress stalls on passing the Digital Asset Market Clarity Act (CLARITY Act), according to CFO Alesia Haas. Speaking at Goldman Sachs' Communacopia & Tech Conference, she said the exchange has a path via the SEC and CFTC if the bill does not pass.

Haas noted that there are three paths to getting clarity: Congress, agency rulemaking, or the court system. She emphasized that agency rulemaking is a viable option, citing the efforts of CFTC Chairman Michael Selig and SEC Chairman Paul Atkins in driving forward change through rulemaking.

Coinbase President Emilie Choi also weighed in, stating that a legislative miss would not force the company to shrink its product plans. She emphasized that the bill's real effect on Coinbase is one of pace rather than possibility, saying it's about accelerating adoption and how quickly money comes off the sidelines for Clarity.

The Senate vote next week is not a final passage vote, but a cloture vote that requires 60 votes to end debate and allow the chamber to formally take up the bill. The outcome will determine whether Coinbase can move forward with new products in the United States.