Crypto Regulation Clarity Coming by Mid-September, Says Coinbase CEO

Bitcoin and cryptocurrency investors are awaiting regulatory clarity in the US, and according to Coinbase CEO Brian Armstrong, it is coming by mid-September. The date marks a potential turning point for the CLARITY Act, which aims to provide clearer guidelines for crypto regulation in the country.

Armstrong, who recently met with President Donald Trump and other crypto executives at the White House, expects either a Senate vote on the bill or new rules from the SEC and CFTC. The Coinbase chief pointed out that September 15 is a crucial date, as it marks the day when a Senate vote could take place, with more than 60 votes needed for passage.

However, if lawmakers fail to pass the CLARITY Act, CFTC officials are preparing an alternative regulatory framework. Chairman Mike Selig has stated that his agency will utilize its existing authorities to establish a regime for crypto markets, allowing both registered and non-registered exchanges to apply for a new designation permitting leveraged and margin trading.

Armstrong also highlighted the importance of a bipartisan proposal from Republican Senator Thom Tillis and Democratic Senator Ruben Gallego. The bill aims to tighten restrictions on public officials issuing their own cryptocurrencies and give state attorneys general a bigger enforcement role, but it has stalled due to lack of White House response.