Coinbase CEO Brian Armstrong urged senators to pass the CLARITY Act this week, citing one in four Americans who own crypto and stronger voter support for lawmakers backing the bill.
Key Takeaways
Brian Armstrong says one in four Americans now own cryptocurrency.The CLARITY Act would expand federal crypto oversight and banking rules.More than 3 million advocates will track senators’ CLARITY votes.The Coinbase executive described the CLARITY Act as the result of extensive bipartisan negotiations and argued that it would support American jobs, tax revenue, and innovation.
Armstrong wrote:
“The CLARITY act represents a ton of bi-partisan work to finally establish clear rules for crypto in America, which 70% of Americans say we should already have.”
He presented the vote as a choice between bringing digital assets under American supervision and allowing more activity to move offshore. The proposal would bring more crypto businesses under U.S. oversight while expanding consumer protections, law enforcement authority, and banking opportunities.
Updated CLARITY Act Expands Federal Crypto FrameworkBanking provisions would authorize regulated institutions to conduct specified digital asset activities while addressing portfolio margining, capital treatment, and payment stablecoin balances. Additional sections address cybersecurity, illicit finance, bankruptcy protections, developer protections, digital asset kiosks, enforcement training, and international coordination.
“The bill even contains many pages of new authorities for banks to integrate stablecoins and crypto and grow their business, which we strongly support,” Armstrong said, noting:
“This is about America getting back to winning, and remaining strong as a financial and technology hub, to create economic growth, jobs, and tax revenue.”
“This week we get to see who in the Senate represents the will of the people, and will step up to vote YES on this common sense legislation,” the Coinbase boss further shared.
“1 in 4 Americans hold crypto – and passing CLARITY is a priority for them. American voters are 2x more likely to support a candidate that backs CLARITY (vs those less likely), regardless of party preference. So the stakes are high for Senate leadership,” Armstrong argued, emphasizing:
“CLARITY isn’t only a win for crypto users. It’s a win for the future of America as a global leader for finance, innovation, and national security. It delivers on all fronts, and voters know it. Senators should too.”
