US Crypto Regulation to Gain Clarity by Mid-September

Crypto regulatory clarity is expected to arrive by mid-September in the US, according to Coinbase CEO Brian Armstrong.

Armstrong's comments came after a White House meeting with President Donald Trump and crypto executives.

The CLARITY Act, which aims to provide a clear regulatory framework for cryptocurrencies, may be voted on in the Senate on September 15. Alternatively, new rules from the SEC and CFTC could be introduced as early as September 16.

CFTC officials are preparing an alternative regulatory framework in case lawmakers fail to pass the CLARITY Act, which would utilize existing authorities to establish a regime for crypto markets.