Coinbase CEO Brian Armstrong has stated that the U.S. cryptocurrency industry is positioned to gain clearer regulatory rules in the coming days whether or not the Senate advances the Clarity Act.
Speaking in a CNBC interview, Armstrong expressed confidence that regulatory clarity will arrive around the bill’s scheduled procedural vote on September 15, either through legislation or through independent action by federal agencies.
The legislation has drawn support from crypto companies, certain banks, and law-enforcement groups after earlier negotiations resolved several industry concerns.
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Armstrong described the bill as ready for approval, noting that senators he has spoken with are largely on board. A key remaining point of discussion involves ethics rules for government officials who hold digital assets.
The September 15 vote is a cloture motion that requires 60 votes to advance, meaning several Democratic senators would need to join Republicans.
Even if the measure falls short, Armstrong said the outcome would still be favorable. He pointed to indications that the SEC and CFTC are prepared to move forward with their own rulemaking. “If it passes, great, we’ve got legislation,” he said.
“Frankly, if it doesn’t pass, it’s also going to be a good outcome because the SEC and the CFTC have said that they’re ready to publish rulemaking, and we’re going to get regulatory clarity one way or another on the 15th or the day or two after.”
Armstrong framed passage of the Clarity Act as an important regulatory milestone that could help unlock greater institutional capital and support the development of products such as tokenized equities in the United States. He has previously emphasized the need for clear rules to reduce uncertainty that has long hindered the industry’s growth.
His comments come as White House crypto adviser Patrick Witt, issued a stark warning to lawmakers, stating that Congress is running out of time to pass the Digital Asset Market Clarity Act.
In comments reported around September 10, 2026, Witt, executive director of the President’s Council of Advisors for Digital Assets, urged both Republicans and Democrats to support a procedural vote scheduled for September 15.
“I would say to everyone, Republican and Democrat: Get on the bill and let’s keep talking,” Witt told Semafor. “A failed motion-to-proceed vote doesn’t give anyone anything they want.”
The vote would test whether the Senate can advance the roughly 600-page bill for further debate and potential amendments.
What the Clarity Act Would Do
The Digital Asset Market Clarity Act (often called the CLARITY Act, seeks to end years of regulatory uncertainty by creating a clear taxonomy for digital assets and dividing oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Key elements include:
– Granting the CFTC primary authority over digital commodities (such as many cryptocurrencies that achieve sufficient decentralization) and related spot markets, exchanges, brokers, and dealers.
– Establishing registration, disclosure, trading, and customer-protection rules for intermediaries.
– Provisions on stablecoin yields and related competitive issues between banks and crypto firms.
– Ethics restrictions limiting federal officials (and in some versions, spouses) from issuing or sponsoring digital assets while in office.
Supporters argue the bill would provide the legal certainty needed to keep innovation and capital in the United States rather than driving it overseas.
Progress has repeatedly stalled over several flashpoints
– Ethics and conflicts of interest: Democrats have pushed for stronger restrictions on officials’ crypto activities, particularly in light of President Trump’s and his family’s digital asset holdings and reported profits. The White House has agreed to significant ethics language but has resisted some broader proposals involving forced divestment or enforcement by state attorneys general.
– Stablecoin yields/rewards: Ongoing debates over how interest or rewards on stablecoins should be treated and the potential impact on traditional bank deposits.
– Illicit finance and anti-money laundering (AML): Law enforcement groups and some senators have raised concerns that certain developer protections could complicate tracing illicit funds.
Witt has repeatedly described the current window as critical. With midterm elections approaching, a failure on the September 15 procedural vote could significantly complicate further action this Congress.
He noted that passage becomes much harder in a potential divided government. The September 15 vote will serve as the clearest near-term test of whether negotiators can bridge the remaining gaps.
Market participants are watching the Senate closely, given the compressed legislative calendar ahead of the midterm elections and the potential for either legislative or regulatory progress to reshape the U.S. digital-asset landscape in the near future.