Coinbase CEO: Regulatory Clarity in the US Will Emerge Regardless of the Fate of the CLARITY Act

• Coinbase CEO Brian Armstrong believes the CLARITY Act has enough support to pass a favorable vote in the U.S. Senate.
• At the same time, he says that even if the bill fails, it will not stop clearer rules for the crypto industry from emerging.

Coinbase CEO Brian Armstrong said the U.S. crypto industry will get regulatory clarity regardless of the outcome of the vote on the CLARITY  Act. He said this on CNBC.

According to Armstrong, the bill has enough support in the Senate, and the senators he has spoken with view the document positively. The vote on the CLARITY Act is scheduled for September 15. 

At the same time, the head of Coinbase noted that even a rejection of the CLARITY Act would not be a critical problem for the crypto industry.

He said the SEC and the CFTC have already signaled they are ready to publish their own rules for the digital asset market. Therefore, in Armstrong’s view, the sector will gain greater regulatory certainty regardless of the vote’s outcome.

One of the key issues in the negotiations remains a set of ethics provisions. To pass the bill, it must secure the support of at least 60 senators.

Arizona Democratic Senator Ruben Gallego previously said that to reach the required number of votes, the ethics provisions and other issues that remain open need to be refined.

Armstrong noted that the parties continue to align on these details, but, in his assessment, ahead of the vote they are “very close to a solution.”

In addition, the Coinbase CEO called the potential passage of the CLARITY Act an important regulatory milestone that could unlock institutional capital and create conditions for launching products such as tokenized stocks in the U.S.

Coinbase Reduces Reliance on Crypto Trading

At the same time, Coinbase is expanding its business beyond spot cryptocurrency trading. Armstrong noted that this segment has effectively been shrinking over the past year. According to him, about half of the company’s revenue still comes from trading. Meanwhile, Coinbase has expanded its trading offerings into stocks, commodities, and the FX market.

The company classifies stablecoins and institutional custody, among other things, as non-trading sources of revenue.

Coinbase continues to expand its international presence. The company has established hubs in the UAE and Singapore, which Armstrong called Coinbase’s Asian hub.

According to him, international expansion was especially important during periods of an unfavorable regulatory environment in the US. The company is also seeking to grow in markets where governments show a more supportive stance toward cryptocurrencies.

As a reminder, earlier Senator Lummis said there is a risk that the CLARITY Act could be delayed until 2030.

Сообщение Coinbase CEO: Regulatory Clarity in the US Will Emerge Regardless of the Fate of the CLARITY Act появились сначала на INCRYPTED.