Coinbase CEO Urges US Senate to Advance CLARITY Act Vote
2026-07-28 02:35
Odaily Odaily Planet Daily News: Coinbase CEO Brian Armstrong posted on platform X on July 27, urging the U.S. Senate to advance a vote on the CLARITY Act, stating that the bill was developed through years of bipartisan negotiations.
Armstrong stated that the CLARITY Act would strengthen law enforcement powers, introduce new consumer protections, and provide a federal regulatory framework for the digital asset industry. He noted that the U.S. currently has no federal laws protecting consumers or supporting the industry's development within the country.
On July 22, U.S. Senate Republicans released an updated version of the CLARITY Act text, covering disclosure standards, registration requirements, anti-fraud provisions, and expanded anti-money laundering obligations for digital asset market participants. CEOs of BlackRock, Fidelity Investments, Charles Schwab, and Goldman Sachs, David Solomon, have expressed support for the bill.
Armstrong stated that the CLARITY Act would strengthen law enforcement powers, introduce new consumer protections, and provide a federal regulatory framework for the digital asset industry. He noted that the U.S. currently has no federal laws protecting consumers or supporting the industry's development within the country.
On July 22, U.S. Senate Republicans released an updated version of the CLARITY Act text, covering disclosure standards, registration requirements, anti-fraud provisions, and expanded anti-money laundering obligations for digital asset market participants. CEOs of BlackRock, Fidelity Investments, Charles Schwab, and Goldman Sachs, David Solomon, have expressed support for the bill.
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