Armstrong calls crypto legislation a “freight train” gaining unstoppable momentum
The debate over U.S. crypto regulation is accelerating, with Coinbase CEO Brian Armstrong voicing strong confidence that the Digital Asset Market Clarity Act will move forward in Congress.
During meetings in Washington, Armstrong said he has “never been more bullish” on the legislation after seeing bipartisan backing from both Senate and House lawmakers. The bill aims to clearly define the roles of agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing digital assets.
Strong bipartisan push for regulatory clarity
“The Senate is strongly supportive of getting this done; the members I met with on both sides of the aisle are ready to get this legislation passed,” Armstrong said in a video statement. He emphasized that the act would ensure innovation continues in the U.S. while protecting consumers from regulatory overreach.
Armstrong also criticized past regulatory approaches, stating: “This is how we ensure the crypto industry can be built here in America, driving innovation and protecting consumers, and making sure we never have another Gary Gensler trying to take your rights.”
Industry voices push for builders’ protection
Kraken CEO Arjun Sethi, who also participated in the Capitol Hill discussions, stressed the importance of ensuring the bill prioritizes innovators. “The real fight is bigger: protecting the right to build protocols, chains, memes, tokenized equities, commodities, utilities, etc., and ensuring incentives stay with the builders, not just incumbents,” Sethi noted.
Executives from Ripple, Circle, Cardano, and venture firms such as a16z and Paradigm were also present in the meetings, reflecting broad industry involvement.
Beyond market clarity: Stablecoins and Bitcoin reserves
Armstrong confirmed that lawmakers will resist attempts by banking groups to restrict yield-bearing stablecoins, after industry lobbying earlier this year. Meanwhile, another initiative—the Strategic Bitcoin Reserve—is also gaining traction, with lawmakers recently meeting with Bitcoin advocates, including Michael Saylor, to discuss its implementation.
Senator Cynthia Lummis has predicted the Clarity Act could reach President Trump’s desk by year-end. If passed, the legislation would mark a major milestone in shaping how the U.S. governs digital assets, signaling that regulatory momentum is now a “freight train leaving the station.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.