Coinbase CEO Brian Armstrong says he has never been more confident about the prospects of comprehensive crypto legislation in the United States, describing the Digital Asset Market Clarity Act as a “freight train leaving the station” after a week of meetings in Washington, D.C.
The proposed legislation — seen as the most significant crypto bill to date — aims to define the regulatory responsibilities of the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and other financial agencies overseeing the digital asset market. Crucially, the bill targets regulatory clarity for non-stablecoin assets such as tokenized equities, commodities, and utilities, an area long plagued by uncertainty.
Earlier coverage: Arthur Hayes Warns Impatient Bitcoiners: “No One Buys BTC Today and Drives a Lambo Tomorrow”
Armstrong: Strong Bipartisan Support
After several days of discussions with lawmakers, Armstrong posted a video message on X, saying, “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.”
He added that lawmakers from both parties are “strongly supportive” of the measure, with the draft already circulating for revisions before it goes to industry participants for public comment. “I think this has a good chance of getting done,” Armstrong said. “I’ve actually never been more bullish on the market structure bill getting passed.”
Senator Cynthia Lummis has also predicted that the CLARITY Act could reach President Donald Trump’s desk before the year ends.
Executives from Ripple, Kraken, Circle, Cardano, and major venture firms such as a16z, Paradigm, and Multicoin Capital also reportedly joined the discussions.
Kraken’s Sethi: Bill Must Protect Builders
Kraken CEO Arjun Sethi emphasized that the bill must prioritize protecting crypto builders. “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,” he said.
Armstrong also pointed out that lawmakers are resisting the banking industry’s push to block yield-bearing stablecoins, which traditional banks argue could threaten their deposit-driven lending model. He noted that banking groups previously attempted to ban stablecoin interest via the GENIUS Act, but were unsuccessful.
Momentum Builds for Strategic Bitcoin Reserve
In addition to the Clarity Act, momentum is also building around a separate initiative: the Strategic Bitcoin Reserve. Earlier this week, 18 industry leaders, including MicroStrategy chairman Michael Saylor, met with lawmakers to discuss the Lummis-sponsored BITCOIN Act.
The proposal envisions the U.S. government accumulating one million Bitcoin over five years through “budget-neutral” methods, such as reevaluating Treasury gold certificates and leveraging tariff revenues.
Together, the week’s developments highlight the growing alignment between crypto industry leaders and policymakers in Washington, signaling that major changes to the U.S. regulatory framework could be imminent.