Coinbase CEO Brian Armstrong has publicly backed the CLARITY Act, a significant piece of legislation aimed at regulating the digital asset market. Armstrong stated it is "time" for the bill to pass, echoing sentiments from US Treasury Secretary Scott Bessent. The Coinbase chief described the current version of the bill, which has undergone months of negotiations between lawmakers and industry representatives, as "strong."
This endorsement follows an earlier stance in January where Coinbase could not support the legislation "as written," which had led to delays in its approval process. Concerns over ethics, tokenized equities, and stablecoin yield have previously stalled the bill's progress. The CLARITY Act requires approval from both the Senate Banking Committee and the Senate Agriculture Committee before a potential vote by the full chamber. Coinbase's legal chief recently indicated that lawmakers are "very close to a deal."