Coinbase CEO Says Crypto Wins Regardless of CLARITY Act Vote

Coinbase, one of the largest U.S. cryptocurrency exchanges, remains heavily exposed to shifts in trading activity and regulation. Chief Executive Brian Armstrong said the market is approaching a point of historical mean reversion, suggesting the downturn may be losing momentum. A clearer federal framework would reduce compliance uncertainty and could encourage capital and talent to return to the U.S. digital-asset industry.

Armstrong said the crypto bear market is nearing its end and expressed optimism about an upcoming U.S. Senate vote on the Clarity Act, though no specific vote date was provided. Coinbase is also expanding beyond conventional crypto trading into tokenized equities, real-world assets, or RWA, and AI Fi. The broader product mix is intended to strengthen the company’s resilience when cryptocurrency trading volumes and prices weaken.

The US Digital Asset Market Clarity Act, known as the CLARITY Act, seeks to establish a federal framework for crypto markets and clarify oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Bipartisan passage would give digital-asset firms a clearer compliance path in the US, while supporters also view regulated stablecoins as a strategic tool for preserving the dollar’s role in global digital finance.

Coinbase’s head of institutional strategy, John D’Agostino, said bipartisan negotiations have entered their final stage, with industry groups and other stakeholders seeking an agreement before Congress leaves for its August recess. D’Agostino said stablecoins could help sustain the dollar’s international advantage and added that US community banks are increasingly pursuing partnerships with crypto companies, signaling broader engagement between traditional lenders and the digital-asset sector.

The CLARITY Act seeks to establish a US crypto-asset market structure framework and clarify the division of regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission. If the bill reaches the full Senate, it would typically need at least 60 votes to advance, making bipartisan cooperation critical to its prospects of becoming federal law. Current polling shows that most voters support clear cryptocurrency rules.

Coinbase Vice President of Policy Kara Calvert said at Consensus 2026 that the Senate Banking Committee could take up the bill as early as the following week. The committee subsequently scheduled a markup for May 14 and voted to advance the CLARITY Act. The bill must still clear a full Senate vote, while lawmakers' dispute over crypto-asset ethics rules for government officials could affect the final timetable and bipartisan support.

The Digital Asset Market Clarity Act of 2025 aims to establish a U.S. regulatory framework for digital-asset markets and clarify the boundaries between securities and commodities oversight. Coinbase CEO Brian Armstrong previously opposed the bill over concerns about its yield provisions, contributing to a standoff between the crypto and banking industries and stalling Senate deliberations.

Armstrong has now voiced support for the CLARITY Act and urged the U.S. Congress to seize the opportunity to pass it. The revised language distinguishes “passive yield” from “activity-based rewards” generated through trading, staking and similar activities, seeking to balance banks’ deposit interests with crypto platforms’ rewards businesses. The crypto industry is pushing the U.S. Senate Banking Committee to complete its markup of the bill on Thursday.