Coinbase CEO Brian Armstrong expects the crypto industry to get regulatory clarity from Washington no matter how the Senate votes on the Clarity Act next month.
In a CNBC interview Wednesday, Armstrong said the Sept. 15 vote matters, but it is not the only path. If the bill passes, he said, the industry gets legislation. If it fails, he still sees a good outcome because the SEC and CFTC have said they are ready to publish rulemaking. Either way, clarity could arrive on the 15th or within a day or two after, according to Armstrong.
What the Clarity Act would do
The Digital Asset Market Clarity Act is a major U.S. bill meant to end years of regulatory confusion. It would split crypto oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The SEC would handle tokens that count as securities. The CFTC would oversee decentralized commodities like bitcoin.
The bill also aims to create a formal federal rulebook for crypto exchanges, brokers, and stablecoins. Industry insiders say a clear legal setup could speed up institutional adoption of digital assets. That has been a big selling point for supporters.
Bipartisan support and remaining fights
Armstrong said the bill has broad support heading into the vote. He pointed to what he called good bipartisan compromise and hundreds of pages of input from both sides. Law enforcement groups, banks, and crypto companies are behind it, he said. Coinbase’s earlier must-have issues have now been resolved, according to Armstrong.
One piece still open is the bill’s ethics provisions for elected officials who hold digital assets. Asked whether the legislation does enough on conflicts of interest, Armstrong said the details are still being negotiated. He said the White House has put out an offer with a strong ethics provision. Democrats have asked for something a bit beyond that, including divestiture. Armstrong added that the two sides appear very close to a solution.
Dimon criticism and new markets
Armstrong also responded to criticism from JPMorgan CEO Jamie Dimon. Dimon has accused Coinbase of using the bill’s stablecoin provisions for regulatory arbitrage against banks. Without naming Dimon, Armstrong said critics with large payments businesses face a competitive issue and are talking their own book. He noted that Goldman Sachs, BNY Mellon, and Fidelity have backed the bill.
Looking ahead, Armstrong pointed to agentic finance as an emerging growth area. He called it still early, but said it is the big total addressable market on the horizon. For now, though, the Senate vote remains the immediate test. Armstrong’s message is that the industry may not need a win on Sept. 15 to get the rules it has long wanted.
