Coinbase CEO Brian Armstrong has publicly backed the CLARITY Act, urging a “yes” vote ahead of its September 15 Senate vote. Armstrong believes the legislation is key to establishing a clear regulatory framework for U.S. cryptocurrency markets, which he anticipates will attract institutional capital and facilitate the integration of tokenized assets.
In an interview on CNBC’s “Squawk Box Asia” on September 10, Armstrong stated that Coinbase’s previous concerns about the bill have been resolved. He indicated that a broad spectrum of stakeholders, including law enforcement, banks, and representatives from both Republican and Democratic parties, now support the legislation. “All of those must-have issues that we raised our hands on last time have now been sorted,” Armstrong said, referencing input from extensive discussions.
Armstrong highlighted the potential link between regulatory clarity and institutional adoption, citing the GENIUS Act as a precedent. He noted that over 150 large companies integrated stablecoins within three months of its passage. He suggested that the CLARITY Act could serve as a regulatory “checkbox” for institutional investors and help bring tokenized equities and perpetual contracts to the U.S.
The CLARITY Act is scheduled for a procedural vote in the Senate on September 15. Senate Majority Leader John Thune filed cloture before the lawmakers’ recess, setting the date for this vote. The measure requires 60 votes to pass, necessitating support from at least seven Democrats or independents in addition to Republican backing.
Armstrong characterized the political negotiations surrounding the bill as nearing a resolution, particularly concerning ethics provisions related to digital-asset holdings. He acknowledged that while the White House proposal includes “very strong” ethics provisions, Democrats have sought additional measures, such as divestiture, but expressed optimism that these discussions are close to resolution.
Beyond regulatory matters, Armstrong commented on broader financial conditions, suggesting that excessive government spending could drive investors toward Bitcoin, drawing a parallel to gold. He also pointed to regulated stablecoins as significant buyers of U.S. government debt, potentially creating demand for Treasury bills and influencing interest rates.
Regarding Bitcoin’s future, Armstrong reiterated his price target of $400,000 by 2030. He believes the cryptocurrency’s one-year downturn may have reached its bottom. With the next Bitcoin halving approximately a year and a half away, Armstrong noted that previous market run-ups have often preceded these events, leading him to predict that “the next year or two is going to be good for Bitcoin.”
Armstrong also indicated that regulatory clarity for the crypto market is likely to emerge through actions by agencies such as the SEC and CFTC, even if the CLARITY Act does not pass. He framed the September 15 vote as a critical decision point, rather than the sole pathway to new rules, suggesting that regulatory clarity is inevitable through either congressional action or agency rulemaking.
Why This Matters
The materials describe a narrow update: Coinbase CEO Brian Armstrong has publicly endorsed the CLARITY Act, urging for a ‘yes’ vote on September 15. Whether the CLARITY Act will pass the Senate on September 15.
Broader Context
Source materials place the factual news in this context: Coinbase CEO Brian Armstrong has backed the CLARITY Act once again ahead of its September 15 Senate vote.
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