CLARITY Act Momentum: Coinbase Backs Senate Vote

Momentum is building for US crypto regulation. Coinbase CEO Brian Armstrong said it is time to pass the Digital Asset Market Clarity Act (CLARITY Act), calling for a clearer path for US-listed markets. The endorsement matters because Coinbase had previously opposed an earlier Senate Banking Committee draft, arguing it was materially worse than the current regulatory baseline. Treasury Secretary Scott Bessent added pressure in a Wall Street Journal opinion, tying the CLARITY Act to the July 2025 GENIUS Act stablecoin framework. He argued that without comprehensive market-structure rules, progress cannot be fully realized, and he pointed to jurisdictions with clearer regimes (including Abu Dhabi and Singapore). SEC Chair Paul Atkins also backed the push, saying Congress should “future-proof” the market with comprehensive legislation. For traders, the main takeaway is that the CLARITY Act is shifting from debate toward tangible support from both the administration and a major exchange—potentially reducing the US regulatory risk premium. Timing remains uncertain, but the broader bipartisan posture could improve sentiment around US crypto exposure. Key policy fault line remains stablecoin yield programs, where lawmakers are negotiating how to restrict yield payments without choking innovation.