US Crypto Regulation Nears Breakthrough with September Vote

Coinbase CEO Brian Armstrong believes that the regulatory framework for cryptocurrencies in the United States could become clearer by mid-September. He pointed to two key dates: September 15, when the US Senate will vote on the CLARITY Act, and September 16, when federal regulators may issue joint guidelines.

The CLARITY Act requires a minimum of 60 votes in the Senate to advance towards legislative approval. Armstrong noted that this bill incorporates hundreds of pages of amendments contributed by Democratic lawmakers, indicating an interest in bipartisan cooperation.

In case Congress remains in a stalemate, the Commodity Futures Trading Commission (CFTC) is preparing an alternative regulatory framework under its existing authorities. CFTC Chairman Mike Selig stated that the agency will not wait indefinitely for parliamentary consensus and is working with decentralized finance protocol developers to facilitate their legal operation within US jurisdiction.