With the Senate set to vote on the Clarity Act on September 15, Coinbase CEO Brian Armstrong is making a public push for the bill, saying it’s ready to pass and that he’s spoken directly with senators who support it. Armstrong laid out his case during an appearance on CNBC’s Squawk Box Asia, broadcast live from Singapore on September 10 — footage that quickly circulated on social media after being shared by the account Altcoin Daily.
Armstrong pointed to the bipartisan process behind the bill, noting that hundreds of pages of input came from lawmakers on both sides of the aisle. He also said support has broadened well beyond the crypto industry itself, with law enforcement organizations, banks, and digital asset companies now backing the legislation.
Why Coinbase Changed Its Tune
Notably, Armstrong acknowledged that Coinbase wasn’t always on board. Earlier versions of the bill raised concerns the company considered dealbreakers. According to Armstrong, those issues have since been addressed, which he says is exactly why Coinbase is now comfortable supporting the current draft. He framed the shift as evidence the legislative process worked as intended — flagging problems early, then fixing them before a final vote.
Armstrong tied the stakes to a bigger global picture, too, arguing that other G20 nations are pressing ahead with blockchain development and that the U.S. risks falling behind without a clear regulatory framework of its own.
Not Everyone Agrees the Vote Settles Anything
Despite Armstrong’s optimism, the September 15 vote isn’t the end of the road even if it succeeds. As one commentator, Naval Orphan, pointed out, the Senate is only deciding whether to advance H.R. 3633 — not casting a final vote. If it clears that hurdle, the bill would still need to go through debate, possible amendments, a final Senate vote, and action in the House before becoming law.
Reaction elsewhere was mixed. Some observers argued that clear rules would be a meaningful step after years of regulatory ambiguity, while others pushed back, with at least one commentator saying Democratic opposition to the bill hasn’t gone away.
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What Happens If the Bill Doesn’t Advance
Armstrong also addressed the alternative scenario. If the Clarity Act stalls, he said the SEC and CFTC have both signaled they’re prepared to move forward with their own rulemaking. In his view, regulatory clarity is coming one way or another — either through Congress or through the agencies themselves — and September 15 is likely to be a turning point regardless of which path it takes.
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