Armstrong: Crypto Wins Either Way in Clarity Act Vote
The Clarity Act is meant to define the roles of the SEC and CFTC for crypto, exchanges, and stablecoins. Armstrong says even if it fails, new rules and more clarity could come quickly.
Key Takeaways
- Brian Armstrong expects the crypto sector to benefit from the Senate vote on the Clarity Act, whether the bill is passed or rejected.
- According to Armstrong, approval would create a clear legal framework, while rejection could quickly lead to new rules from the SEC and CFTC.
- Armstrong calls agentic finance a growth area and repeats his expectation that Bitcoin could rise to $400,000 in 2030.
Coinbase CEO Brian Armstrong says the crypto sector will benefit either way from the U.S. Senate vote on the Clarity Act on September 15. In his view, both approval and rejection will ultimately bring more clarity for crypto, because regulators could then move quickly with new rules.
Senate Vote
Armstrong said in an interview with CNBC that if the bill passes, he expects a clear legal framework, but that a failure would not necessarily be bad either. In that case, the SEC and the CFTC would be ready to publish their own rules, according to him, which would still bring clarity around September 15 or shortly after.
The Digital Asset Market Clarity Act is meant to more clearly define the U.S. oversight structure for crypto. The proposal splits the roles of the SEC and the CFTC, and is also supposed to give more guidance for crypto exchanges, brokers, and stablecoins. That matters for the crypto market because unclear rules in the U.S. have been holding back how companies and institutional players approach crypto for years.
Armstrong also said there is broad support behind the bill. According to him, there has been a lot of bipartisan coordination and Coinbase's main concerns have now been addressed. He also pointed to support from law enforcement, banks, and crypto companies.
Ethics Remain a Sensitive Point
One part that is still not fully settled is the ethics rules for elected politicians who hold digital assets. Armstrong said the details are still being worked out and that negotiations are still ongoing over possible conflicts of interest.
He pointed out that the White House has already put forward a proposal with a strong ethics provision, while Democrats, according to him, want to go further and also include divestment of positions. Armstrong said both sides seem close to a solution.
Coinbase Looks at Agentic Finance
Beyond the legislation, Armstrong addressed criticism from JPMorgan CEO Jamie Dimon, who has accused Coinbase of using the stablecoin provisions in the bill for regulatory arbitrage against banks. Without naming Dimon directly, Armstrong responded that companies with large payment businesses are mainly defending their own interests. He said Goldman Sachs, BNY Mellon, and Fidelity also support the bill.
Armstrong also called agentic finance an important growth area. This refers to payments and financial services where AI and blockchain are used together. According to him, this is still early, but Coinbase already has a leading position there, partly through Base, x402, and USDC. He also said that most of the agentic payments processed so far took place on Base.
Finally, Armstrong repeated his long-term view on Bitcoin. He told CNBC that $400,000 (€343,300) in 2030 is a reasonable target, and that the bottom in this most recent cycle, in his view, has already been reached.
