Coinbase CEO Brian Armstrong Backs CLARITY Act Ahead Of US Senate Markup Thursday

Coinbase CEO Brian Armstrong backed the latest version of the Digital Asset Market Clarity Act (CLARITY) ahead of the US Senate’s markup of the crypto market structure bill on Thursday.

“Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong posted a video from Capitol Hill this morning urging lawmakers to pass the CLARITY Act, 24 hours before the bill’s first full committee vote”

Benzinga

Armstrong said about the updated bill, “I don't think it's ever been in a stronger or more bipartisan position,” and he described banking and crypto lobbies reaching a “healthy compromise” on stablecoin yield.

Benzinga

The TradingView report said the bill stalled in January after crypto industry players, led by Coinbase, rejected the initial draft, and it said the latest version improved provisions around decentralized finance (DeFi), tokenized stocks, and the authority of the Commodity Futures Trading Commission (CFTC) to regulate crypto markets.

Armstrong also tied the bill’s momentum to a stablecoin-yield dispute, and the Fox Business report said the legislation includes compromises where rewards on stablecoins would only apply when there is “some sort of material activity on the account.”

As the Senate Banking Committee prepared to mark up the CLARITY Act on May 14, Coinbase CEO Brian Armstrong told FOX Business that the updated draft was a workable “compromise” that could streamline financial services and boost institutional crypto adoption.

The CryptoRank report said banking trade groups warned the stablecoin rules could shift deposits away from insured banks, and it added that Senator Elizabeth Warren and other Democrats have filed more than 100 amendments, including 40+ from Warren, ahead of Thursday’s markup of the 309-page draft.

Bitcoin Magazine

In the same reporting, Armstrong highlighted a stablecoin rewards provision that would only apply when there is “some sort of material activity on the account,” and it said the approach would make the system “more efficient.”

Benzinga reported that Polymarket traders were skeptical, with the contract on the bill becoming law in 2026 slipping from 75% in early May to 59%, and it said the Senate Banking panel splits 13 Republicans to 11 Democrats with all 13 Republicans needed to advance the bill.

The Fox Business report said Armstrong argued the broader shift could make financial systems faster and cheaper for consumers and businesses, while it also described Coinbase’s expansion into products tied to subscription, payment and prediction markets with a roughly $100 million revenue run rate after only two months.

“Summary - Coinbase Chief Executive Officer Brian Armstrong said the crypto market structure bill, the CLARITY Act, is closer than ever”

bloomingbit

The Bitcoin Magazine report said the CLARITY Act, formally H.R. 3633, cleared the House of Representatives on July 17, 2025, in a 294–134 bipartisan vote, and it said the Senate Banking Committee Chairman Tim Scott set a target of June or July 2026 for a full Senate floor vote.

It also said the White House marked July 4 as its goal for a presidential signature, and it described a remaining fault line over ethics provisions, specifically language addressing President Trump and his family’s crypto holdings.

Meanwhile, Finance Magnates said the bill has not been approved yet and that only if it passes the full Senate, gets aligned with the House version, and is then signed by President Trump will it actually become law, while it quoted Armstrong saying, “The bill is strong. It will benefit the American people by making the US financial system faster, cheaper and more accessible.”