Coinbase CEO Urges US Senate to Advance CLARITY Act Vote
2026-07-28 02:35
Odaily Planet Daily News: Coinbase CEO Brian Armstrong posted on X platform on July 27, urging the US Senate to advance the CLARITY Act vote, stating that the bill has been formed through years of bipartisan negotiations.
Armstrong stated that the CLARITY Act will strengthen law enforcement powers, introduce new consumer protections, and provide a federal regulatory framework for the digital asset industry. He noted that there is currently no federal law in the US to protect consumers or support the development of the industry domestically.
US Senate Republicans released an updated version of the CLARITY Act text on July 22, 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 endorsed the bill.
Armstrong stated that the CLARITY Act will strengthen law enforcement powers, introduce new consumer protections, and provide a federal regulatory framework for the digital asset industry. He noted that there is currently no federal law in the US to protect consumers or support the development of the industry domestically.
US Senate Republicans released an updated version of the CLARITY Act text on July 22, 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 endorsed the bill.
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