Coinbase CEO Addresses CLARITY Act Support and Progress

TLDR

• White House supports Coinbase's negotiations with banks.
• Senate Banking Committee postponed the CLARITY Act markup.
• Potential $1 billion revenue loss for Coinbase due to restrictions.

Brian Armstrong, CEO of Coinbase, recently addressed claims suggesting a potential clash with the White House over the CLARITY Act, known as the Digital Asset Market Clarity Act of 2025 (H.R. 3633). Armstrong clarified that the administration has been supportive and stated that ongoing discussions with banks are progressing constructively.

Armstrong emphasized the White House's constructive involvement, mentioning that they have encouraged Coinbase to negotiate with banks, which is currently underway. His statements aim to counter rumors of a potential withdrawal of support from the administration for the bill.

Key Figures in Crypto Regulation

Several notable industry leaders are actively involved in shaping the discussion surrounding the CLARITY Act. These include Brian Armstrong from Coinbase, Faryar Shirzad as Chief Policy Officer at Coinbase, Brad Garlinghouse from Ripple Labs, and Dante Disparte from Circle. Each of these figures contributes their expertise to guide the act's evolution.

Garlinghouse of Ripple Labs supports the bill, labeling its success as crucial for the crypto industry. Meanwhile, Disparte from Circle encourages bipartisan cooperation within Congress to promote structured competition in digital asset markets.

"The White House has been super constructive here. They did ask us to see if we can go figure out a deal with the banks, which we're currently working on."

Brian Armstrong, CEO, Coinbase

Senate Banking Committee and Bill Markup Delay

The CLARITY Act's progression faced a delay when the Senate Banking Committee postponed its markup from January 14-16, 2026. This followed Coinbase's withdrawal of support over several concerns, such as prohibitions on decentralized finance (DeFi), restrictions on tokenized equities, and stablecoin reward limitations.

Senator Tim Scott, Chairman of the Senate Banking Committee, highlights the sustained bipartisan efforts behind the bill. Scott's statement underlines the importance of crafting clear regulatory guidelines to protect consumers and bolster the financial infrastructure in the United States. Scott's official statement further elaborates on these objectives.

Potential Implications for Digital Assets

The CLARITY Act could greatly impact various digital assets. It assigns the Commodity Futures Trading Commission (CFTC) with oversight of digital commodities like Bitcoin and Ethereum, while the Securities and Exchange Commission (SEC) retains control over security-like sales.

Some of the proposed regulations could potentially lead to significant financial shifts, with a $1 billion potential annual revenue loss for Coinbase due to stablecoin restrictions. Bank of America's CEO speculates on the possibility of $6 trillion moving to stablecoins if yields remain advantageous.

Historical Context and Legislative Background

The CLARITY Act builds upon years of discussions and attempts to address regulatory gaps in the United States' crypto market. It follows the historical backdrop of the SEC vs. Ripple lawsuits and prior market structure discussions.

The bill adds to the efforts of the late 2025 House committee, which aimed to provide a clearer market structure. For detailed insights, refer to the official document on Myth vs Fact: The Clarity Act Explained.