Show
Coinbase CEO Brian Armstrong urged lawmakers on Capitol Hill Tuesday to pass the Digital Asset Market Clarity Act, a bipartisan bill that he believes is very close to becoming law. He described the bill as being ‘at the one-yard line,’ meaning it’s almost ready for approval.
In an interview on CNBC’s Closing Bell on July 21, 2026, Armstrong stressed that lawmakers should create firm federal regulations for cryptocurrency before they begin their summer break in August.
Bipartisan Compromise at the One-Yard Line
After a day of meetings with senators, Armstrong said he’s confident the bill will pass soon.
From my perspective, the Clarity Act is very close to becoming law – we’re talking about the final stages. It’s a real testament to the effort put in by members of both parties, who dedicated countless hours, along with their teams, to reach a genuinely bipartisan agreement.
This bill, already approved by the House and moving forward in the Senate, seeks to clarify rules for crypto markets by defining the difference between securities and commodities. Supporters believe it will give law enforcement better tools, protect consumers, and encourage innovation by establishing a clear federal framework – something currently lacking.
As a researcher following this issue, it’s clear we currently lack federal laws to either protect consumers or foster growth within this industry here in the US. Simply maintaining the current situation isn’t viable. I believe this bill would significantly benefit the country, and it’s crucial that it passes.
”What Happens If the Bill Stalls?
Despite the short timeframe, Armstrong believes the bill will be approved. He also explained the potential consequences for Coinbase and the crypto industry if it isn’t passed this year.
He explained that Coinbase would largely continue developing its business in the U.S., benefiting from the current administration’s supportive regulatory environment. However, some functions might move to other countries where the rules are more established, potentially leading to a somewhat easier operating landscape in the near future.
Armstrong emphasized that Coinbase would rather have clear, long-lasting laws than depend on regulations that are subject to change.
Coinbase believes clear, long-term legal rules are needed to encourage companies to invest in the U.S. with confidence, regardless of which administration is in power. They argue this will help America succeed and keep consumers safe within the country.
Coinbase is bringing its funds and business back to the U.S., demonstrating its commitment to operating primarily within the country.
Crypto Cannot Be ‘Uninvented’
Armstrong presented the issue to lawmakers as a clear choice between protecting people from fraud and stopping illegal financial activity.
He explained that establishing clear rules for this technology is now essential, as it’s already here to stay. The key question facing the United States, he said, is whether to regulate its development within American laws or allow it to be built and accessed outside of U.S. jurisdiction.
Ethics Concerns and Trump Deal Seen as Key Breakthrough
As a researcher, I’ve observed that Democrats are expressing worries about the authority and ethical guidelines surrounding law enforcement. These concerns have been amplified by recent reports detailing President Trump’s substantial profits from cryptocurrency investments.
Armstrong explained that Coinbase has intentionally concentrated on fundamental cryptocurrency regulations, avoiding involvement in ethical discussions. He did, however, acknowledge that the recent progress on an ethics framework is a significant step forward.
As a crypto investor, I’m hearing good things about progress in Washington. Brian Armstrong mentioned there’s been a lot of cooperation between parties and the White House, and that the President has actually signed off on some ethics guidelines related to crypto. I’m hopeful we’ll see the details of this agreement in the official draft legislation soon – maybe within the next few days.
I see the recent ethics agreement as a major breakthrough. It significantly improves the likelihood of the bill being passed – it felt like a crucial piece of the puzzle finally clicking into place.
Next Steps
As the Senate nears its summer break, Armstrong emphasized that both businesses and customers would benefit more from a unified, bipartisan law instead of the confusing mix of regulations currently in place.
A brief, important interview highlighted that the Clarity Act is on the verge of being passed into law, meaning the coming weeks will be critical for determining the future of cryptocurrency in the U.S.
2026-07-22 16:38