Coinbase Says U.S. Crypto Rules Are Coming And Even A Failed Senate Vote May Not Stop Them

Coinbase CEO Brian Armstrong said the U.S. crypto industry is headed toward clearer federal rules regardless of whether the Senate passes the CLARITY Act, pointing to work already underway at the Securities and Exchange Commission and Commodity Futures Trading Commission.

Armstrong said he believes the legislation has enough support to move forward and that senators he has spoken with are on board. The Senate is scheduled to hold a key procedural vote on the measure Sept. 15, with negotiations continuing over ethics provisions and other unresolved issues.

"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 told CNBC.

The Digital Asset Market CLARITY Act would establish a federal market structure for digital assets and clarify the respective roles of the SEC and CFTC. The House passed the legislation in July 2025, and the Senate Banking Committee advanced it in May by a 15-9 vote.

Sen. Cynthia Lummis, R-Wyo., released updated legislation in July combining work by the Senate Banking and Agriculture committees. The revised measure is intended to establish rules governing digital asset markets and their federal oversight.