Coinbase CEO to Meet with U.S. Republican Senators Ahead of Key CLARITY Act Vote

Odaily Coinbase CEO Brian Armstrong is scheduled to meet with U.S. Republican senators this Wednesday, just before the Senate Banking Committee is expected to hold a key markup vote on the CLARITY Act on Thursday.

According to reports, the latest draft of the bill exceeds 300 pages, covering stablecoin reward mechanisms, DeFi protection clauses, and federal regulatory standards for digital assets. Previously, Coinbase withdrew its support for the bill due to concerns over stablecoin yield restrictions and DeFi protections. However, after Senators Thom Tillis and Angela Alsobrooks pushed for amendments, Armstrong has recently softened his stance on the legislation, stating that the industry "didn't get everything it wanted, but kept its core demands."

Currently, U.S. banking organizations are still lobbying to tighten stablecoin-related provisions, while some Democratic lawmakers are demanding the inclusion of conflict-of-interest clauses that would restrict government officials from engaging in crypto businesses. The market is closely watching the outcome of this week's committee review, which could determine whether the first comprehensive U.S. crypto market regulatory framework can be advanced and enacted by the end of 2026. (FinanceFeeds)