Armstrong Says CLARITY Act Result Won’t Derail Crypto’s Growth

Coinbase CEO Brian Armstrong expects the U.S. crypto industry to gain regulatory clarity regardless of whether the Senate approves the CLARITY Act on Sept. 15.

During a CNBC interview Wednesday, Armstrong said passage of the legislation would be a positive development because it would establish a formal legal framework. But he also argued that a failed vote could ultimately lead to clarity through regulatory action, as both the Securities and Exchange Commission and Commodity Futures Trading Commission have indicated they are prepared to introduce new rules.

Armstrong expects that process to deliver clearer regulations either on Sept. 15 or within the following few days.

The Digital Asset Market Clarity Act seeks to resolve uncertainty over federal crypto oversight by defining the roles of the SEC and CFTC. Under the proposed framework, digital assets considered securities would generally fall under SEC jurisdiction, while decentralized commodities such as Bitcoin would be overseen by the CFTC.

The bill would also establish rules for crypto exchanges, brokers and stablecoins. Industry participants argue that a clearer regulatory framework could reduce uncertainty and help accelerate institutional adoption of digital assets.

Armstrong highlights bipartisan support

Armstrong said the legislation has attracted significant bipartisan backing following extensive negotiations and hundreds of pages of contributions from both sides of the political aisle.

He said law enforcement organizations, banks and crypto companies are among those supporting the bill. Armstrong also noted that the key issues Coinbase previously regarded as essential have been resolved.

However, lawmakers are still negotiating ethics provisions concerning elected officials who hold digital assets.

Asked whether the bill sufficiently addresses potential conflicts of interest, Armstrong said the details are still being negotiated. He said the White House has presented a strong ethics proposal, while Democrats have sought additional safeguards, including divestiture requirements.

According to Armstrong, the two sides appear to be nearing an agreement.

Coinbase pushes back on banking criticism

Armstrong also addressed criticism from JPMorgan CEO Jamie Dimon, who has argued that the CLARITY Act’s stablecoin provisions could allow Coinbase to gain a regulatory advantage over banks.

Although Armstrong did not name Dimon directly, he suggested that critics with substantial payments businesses may have a competitive interest in the debate. He also pointed to Goldman Sachs, BNY Mellon and Fidelity as examples of major financial institutions that support the legislation.

Agentic finance seen as major growth opportunity

Armstrong identified agentic finance as another potentially important growth market for the crypto industry.

He described the sector as being in its early stages but said it represents a large total addressable market and could become a significant future revenue opportunity.

Coinbase-built infrastructure already processes most agentic payment activity, Armstrong said. More than 90% of the roughly 165 million agentic payments recorded so far have taken place on Base, the blockchain created by Coinbase, using the company’s x402 protocol and USDC.

Armstrong said that level of activity gives Coinbase a leading position in the emerging agentic finance sector.

He also reiterated his bullish outlook for Bitcoin, saying $400,000 by 2030 remains “a reasonable target.” Armstrong added that he believes Bitcoin has already reached the bottom of its latest market cycle.