Armstrong Pushes Digital Asset Clarity Act, BTC Reserve Plan
Coinbase CEO Brian Armstrong is lobbying Congress for the swift passage of the Digital Asset Market Clarity Act, a bipartisan bill backed by Senators like Cynthia Lummis and firms including Ripple, Kraken, Circle, a16z and Paradigm. The Digital Asset Market Clarity Act proposes clear oversight by allocating security-like tokens to the SEC and commodities and tokenized assets to the CFTC, reducing regulatory overlap, clarifying stablecoin rules by avoiding interest restrictions and enhancing reserve requirements under the GENIUS Act framework.
Simultaneously, lawmakers are considering a Strategic Bitcoin Reserve plan to acquire one million BTC over five years using non-deficit funding. Traders view these measures as essential for boosting consumer protection, supporting US innovation, and enhancing market confidence in digital assets.
Bullish
This news is bullish in both the short and long term for cryptocurrency markets. In the short term, clear rules from the Digital Asset Market Clarity Act could reduce regulatory uncertainty, boosting trader confidence and driving buying pressure in digital assets and Bitcoin. Long term, a defined oversight framework for SEC and CFTC, clarified stablecoin regulations and a Strategic Bitcoin Reserve plan are likely to attract institutional investment, support innovation, and enhance market stability. Combined, these measures set a foundation for sustainable growth and competitiveness in the global crypto landscape.