Coinbase CEO Says Crypto Industry Wins Either Way on Clarity Act Vote

Coinbase CEO Brian Armstrong said the crypto industry will gain regulatory clarity whether or not the Senate passes the Digital Asset Market Clarity Act on September 15, telling CNBC that federal regulators have signaled readiness to move forward with rulemaking even if the legislation fails. The bill aims to formally divide crypto oversight between the SEC, covering tokens classified as securities, and the CFTC, which would oversee decentralized commodities like bitcoin.

Broad Support Cited, But Ethics Provisions Still Under Negotiation

Armstrong said the legislation carries strong bipartisan backing, with input from law enforcement groups, banks and crypto companies, adding that Coinbase’s previous concerns have largely been addressed. One unresolved issue involves ethics provisions for elected officials holding digital assets, with the White House reportedly offering a strong ethics framework while Democrats have pushed for stricter divestiture requirements. Armstrong said the two sides appear close to reaching an agreement.

Armstrong Pushes Back on Bank Criticism, Highlights Agentic Finance Growth

Responding to criticism from a major bank executive who accused Coinbase of exploiting stablecoin provisions for competitive advantage, Armstrong said such critics have their own financial interests at stake, noting that firms including Goldman Sachs and Fidelity support the bill. He also highlighted growth in agentic finance, claiming Coinbase built infrastructure has processed the vast majority of agentic payments to date. Separately, Armstrong reiterated his long-term bitcoin price target of $400,000 by 2030, stating he believes the bottom of the current market cycle has already passed.