Coinbase CEO Optimistic as U.S. Crypto Market Structure Bill Stalls
Coinbase CEO Brian Armstrong said he expects a “win‑win” outcome for the crypto industry, banks and consumers despite delays to the CLARITY Act in the U.S. Senate. Speaking at Mar‑a‑Lago on CNBC, Armstrong argued the bill offers regulatory certainty and will help the U.S. remain competitive in digital assets. The CLARITY Act passed the House 294–134 in July 2025 but has not received a Senate floor vote after committee markups scheduled in January 2026 were postponed amid industry pushback and internal disagreements. Stablecoin yield (whether issuers can offer rewards or interest) remains a core sticking point: Senator Bernie Moreno opposes stablecoin rewards, while Armstrong says rewards are essential to build a competitive domestic market. Related legislative moves include the Senate Agriculture Committee advancing a measure with elements of the Digital Commodity Intermediaries Act (S.3755) on a party‑line vote. The White House is reportedly considering a further meeting to resolve the stablecoin yield deadlock. Armstrong noted some banks are partnering with Coinbase and that embracing crypto innovation is important for U.S. competitiveness. Traders should monitor legislative timelines (including an April target mentioned by Senator Moreno), stablecoin yield provisions, and any White House or committee actions — developments could affect stablecoin demand, on‑exchange liquidity and sector sentiment.
Neutral
The news is neutral overall. Positive signaling from Coinbase CEO Brian Armstrong about a likely “win‑win” resolution and reports of bank partnerships are constructive for sector sentiment and long‑term institutional adoption — bullish factors. However, the bill remains stalled in the Senate, key committee markups were postponed, and the unresolved stablecoin yield dispute (a material policy risk for stablecoin mechanics and issuer business models) sustains near‑term uncertainty — bearish factors. Historically, regulatory clarity announcements tend to support sustained sector gains, while prolonged legislative deadlock or restrictive outcomes can trigger selloffs or lower on‑chain activity. Short term: expect muted price reaction and increased volatility around legislative milestones, White House meetings, or committee votes as traders trade the political risk. Long term: passage with favorable stablecoin provisions would be bullish for stablecoin volumes, exchange liquidity and institutional entry; passage that restricts yields could constrain some business models and be less supportive. Traders should watch legislative calendar updates, statements from key senators, and any executive branch interventions to time positions and manage regulatory event risk.