Regulators Ready to Move Forward on Crypto Rules Despite CLARITY Act Uncertainty
Despite concerns over the CLARITY Act's fate in the Senate next week, Coinbase CEO Brian Armstrong remains optimistic that crypto regulation will advance one way or another. In a recent interview with CNBC, he stated that regulators have made plans to move forward with their own rules, regardless of the bill's outcome.
Armstrong emphasized that the CLARITY Act still has broad bipartisan support and a good chance of passing, but even if it fails, regulatory clarity is imminent. He pointed out that the SEC and CFTC are ready to publish rulemaking, which will provide clarity on crypto regulations by the 15th or shortly after.
The CEO highlighted the significant progress made in resolving 'must-have issues' flagged by Coinbase, and noted that negotiators appear close to a solution for the ethics provisions, a sticking point in the bill's passage. Armstrong also maintained his bullish view on Bitcoin, stating that a price of $400,000 by 2030 is still a reasonable target.