Crypto Set for Regulatory Clarity Regardless of CLARITY Act Outcome
As the US Senate prepares to vote on the CLARITY Act on September 15, Coinbase CEO Brian Armstrong expressed confidence that crypto will gain regulatory clarity regardless of the outcome. The bill, which aims to establish a framework for digital assets, has faced opposition from some Republican Senators.
However, Armstrong believes that even if the CLARITY Act fails, federal agencies will continue with their rulemaking efforts, bringing about much-needed regulatory clarity to the crypto space. This view is echoed by SEC Chair Paul Atkins, who expects a Senate vote on September 15.
The National Sheriffs' Association has reversed its opposition to the bill and now holds a neutral stance, citing the complexity of the legislation. Meanwhile, Republican Senator Mike Rounds warned that the legislative outlook for the CLARITY Act is unfavorable due to an ethics roadblock.