White House · Coinbase · US Senate · CLARITY Act · US Congress · Bitcoin Magazine
Coinbase CEO Confirms Crypto Bill Could Rewire American Finance, Senate Votes Thursday
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◎ Multiple-sources
Coinbase CEO Brian Armstrong says the Senate’s advancing of the CLARITY Act could fundamentally reshape U.S. finance.
Key facts
- The CLARITY Act, formally H.R. 3633, the Digital Asset Market Clarity Act of 2025, cleared the House of Representatives on July 17, 2025, in a 294–134 bipartisan vote, with all 216 House Republicans
- Committee Chairman Tim Scott has set a target of June or July 2026 for a full Senate floor vote, while the White House has marked July 4 as its goal for a presidential signature
- The standoff produced a compromise brokered by Senators Thom Tillis (R-NC) and Angela Alsobrooks (D-MD)
- The statements, via Fox News, came as the Senate Banking Committee prepared to hold its markup of the CLARITY Act on May 14, the first formal committee vote on the legislation in the Senate
Summary
A long-stalled crypto market structure bill is moving through Congress with new momentum, and Coinbase’s top executive says it could reshape the American financial system. Coinbase CEO Brian Armstrong declared his company’s support for the Digital Asset Market Clarity Act on Wednesday, calling the legislation a “true compromise” that balances the demands of the crypto industry against the interests of the traditional banking sector and signaling the bill is in the best shape he has seen since negotiations began. The statements, via Fox News, came as the Senate Banking Committee prepared to hold its markup of the CLARITY Act on May 14, the first formal committee vote on the legislation in the Senate after months of procedural delays and two cancelled markups.