Crypto Leaders Defiant Despite CLARITY Act Setback

Binance co-founder Changpeng Zhao and Coinbase CEO Brian Armstrong have expressed confidence that crypto development will continue despite the setback of the CLARITY Act. The bill, which aimed to clarify regulatory requirements for cryptocurrencies, failed to reach the 60 votes required to advance in the Senate.

Zhao argued that technological progress will continue regardless of legislative developments, while Armstrong noted that the SEC and CFTC can create clearer rules under existing authority. He also pointed out that the GENIUS Act already provides a framework for stablecoins.