The long‑awaited crypto market structure bill, known as the CLARITY Act, remains stuck in the US Senate, but Coinbase Chief Executive Officer Brian Armstrong says he still expects a positive resolution.
Coinbase CEO Remains Optimistic“There is now a path forward,” he said, framing the legislation as an opportunity to bring regulatory certainty while strengthening the country’s position in the global digital asset race.
The legislation cleared the House of Representatives in July 2025 with a strong bipartisan vote of 294–134. It was later referred to the Senate Committee on Banking, Housing, and Urban Affairs in September 2025, where it has yet to receive a floor vote.
In late January and early February, the Senate Agriculture Committee advanced a related measure that included elements of the Digital Commodity Intermediaries Act (S. 3755) on a narrow party‑line vote. However, that step has not resolved the broader stalemate over market structure reform.
Senator Moreno Opposes Stablecoin RewardsDuring the CNBC interview, Moreno suggested that, unless one owns a bank, one likely should not be concerned. He contended that consumers would benefit from greater competition for their deposits.
Nonetheless, the Senator from Ohio further expressed confidence that the crypto legislation would ultimately pass the current deadlock, saying, “We are going to get this bill across the finish line,” and adding that he hopes it happens by April.
Coinbase CEO has taken a different view on stablecoins, arguing that rewards are essential to building a competitive domestic market. “To build the stablecoin industry in America, we have to have stablecoin rewards,” he said.
“It is good for the banking industry to embrace innovation,” Armstrong said, stressing that the United States has historically succeeded by adapting rather than protecting incumbents.
“America has never been one to be stagnant and protect the incumbents. We want to lean into the future and make sure America stays competitive. We are existing on a global stage here.”
Featured image from OpenArt, chart from TradingView.com
