- Brian Armstrong now supports CLARITY Act after revisions addressed concerns on yields and tokenized equity rules.
- Senate negotiations advance toward agreement, with committee approvals still needed before a full vote.
- Industry and political backing grows, though divisions remain over stablecoin provisions and regulatory structure.
Coinbase CEO Brian Armstrong backed the Digital Asset Market CLARITY Act after previously opposing it. He said the updated bill is strong enough to pass after months of negotiations. His position aligns with Scott Bessent, who urged Congress to move the legislation forward.
Armstrong Reverses Stance After Earlier Objections
Armstrong confirmed his support in a post on X, stating it is time to pass the bill. Notably, this marks a shift from his earlier positions in January and March. At that time, Armstrong withdrew support before a Senate Banking Committee markup vote.
That decision delayed the process and exposed divisions across the industry. He had raised concerns over stablecoin yield restrictions and tokenized equity provisions. However, recent negotiations addressed key issues raised by Coinbase.
According to Armstrong, bipartisan work improved the bill’s structure over recent months. As a result, Coinbase now supports advancing the legislation.
Negotiations Move Closer to Final Agreement
Progress has continued across both Senate committees handling the bill. The Senate Agriculture Committee approved its portion in January. However, the Senate Banking Committee has yet to schedule its markup. This step must occur before the full Senate vote.
Coinbase Chief Legal Officer Paul Grewal said lawmakers are close to reaching an agreement. His statement reflects narrowing differences between regulators. The bill splits oversight between securities and commodities frameworks. Therefore, coordination across committees remains necessary for passage.
Industry and Political Pressure Intensifies
Support for the bill now includes both policymakers and industry leaders. Bessent urged Congress to act, warning about global competition. Meanwhile, Donald Trump has called for faster progress on crypto regulation. Reports also indicate Armstrong met with Trump before this endorsement.
Industry participants remain divided on certain provisions. Brad Garlinghouse supported the bill, while banking groups raised concerns over stablecoin yields. A compromise on yield provisions helped move discussions forward.
A White House analysis estimated a full ban could cost consumers $800 million annually. The House passed the CLARITY Act in July 2025, but Senate delays stalled progress.
