Coinbase CEO Brian Armstrong on Tuesday urged the U.S. Senate to advance the CLARITY Act, describing the legislation as a bipartisan breakthrough that sits at the 'one-yard line' and needs only final passage. The push comes as the publicly traded exchange (Nasdaq: COIN) continues to lobby for clearer federal rules around digital assets.
The 'One-Yard Line'
Armstrong framed the CLARITY Act as nearly across the finish line. In a public statement, he called on senators to move the bill forward, arguing that the window for bipartisan crypto legislation is open but won't stay open forever. The bill has already cleared key committee hurdles, he noted, and now requires a floor vote.
What the CLARITY Act Aims to Do
The legislation is designed to strengthen consumer protections, give law enforcement clearer authority to police bad actors, and cement American leadership in the digital-asset space. Supporters say it would replace the current patchwork of state-by-state rules with a federal framework, reducing uncertainty for exchanges and investors alike.
Coinbase's Role
Coinbase has been one of the most vocal advocates for the CLARITY Act. Armstrong's latest appeal is part of a broader campaign to get the bill across the line before the end of the current session. The company has argued that without clear rules, the U.S. risks falling behind other jurisdictions that have already enacted comprehensive crypto laws.
The Senate is expected to take up the CLARITY Act when it returns from recess in early August. Armstrong's call adds pressure on leadership to schedule a vote. Whether the bill can muster the 60 votes needed to overcome a filibuster remains the open question.
