Coinbase CEO Brian Armstrong expressed optimism regarding the advancement of U.S. crypto regulation, stating that the Clarity Act is 'ready to get a yes vote' in the Senate, with senators he has spoken to supporting the legislation [1]. The Clarity Act, introduced in May 2025 and passed by the House in July, aims to establish a federal framework for digital assets and clarify oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) [1]. Armstrong noted that the bill has broad support from crypto firms, law-enforcement groups, and several banks [1].
The Senate vote on the Clarity Act is scheduled for September 15, 2026. Securing the necessary 60 votes remains a challenge, with ethics provisions still under negotiation. Democratic Senator Ruben Gallego of Arizona highlighted the importance of strong ethics legislation to secure the required votes, stating, 'The way to get 60 votes is with good ethics legislation as well as rounding out some of the things that are still outstanding' [1]. Armstrong indicated that negotiations on these provisions are 'very close to a solution' ahead of the vote [1].
Armstrong emphasized that even if the Clarity Act does not pass, regulatory clarity for the crypto sector could still be achieved through SEC and CFTC rulemaking, which he expects to occur 'on the 15th or the day or two after' the Senate vote [1]. He described the potential passage of the Clarity Act as a 'regulatory checkbox' that could unlock institutional capital and enable new products such as tokenized equities in the U.S., calling it a 'big milestone' [1].
In addition to regulatory developments, Armstrong discussed Coinbase's business diversification beyond crypto spot trading, which he said 'has basically been down for the last year.' About half of Coinbase's revenue comes from trading, but the company has expanded into stocks, commodities, foreign exchange, stablecoin, and institutional custody businesses [1]. Coinbase reported second-quarter revenue of $1.2 billion, down from $1.5 billion a year earlier, and posted a net loss of $35 million [1].
CONCLUSION
Coinbase CEO Brian Armstrong remains positive about the prospects for U.S. crypto regulation, with the Clarity Act approaching a critical Senate vote. Regardless of the bill's outcome, Armstrong expects regulatory clarity to emerge soon, which could unlock institutional investment and new product opportunities for the industry.