Crypto: Armstrong Says Washington Can No Longer Delay Regulatory Clarity

September 15 is approaching for American crypto. The Senate must decide whether to advance the CLARITY Act, a text awaited for months by the industry. It will require 60 votes. Brian Armstrong believes the threshold remains achievable. And if Congress blocks it again, the SEC and CFTC are already preparing the next steps.

Crypto Counts Its Votes in the Senate

The CLARITY Act returns after several weeks of pause. The text had already fallen behind schedule before summer. September 15 does not yet correspond to its final adoption. The Senate must first vote to move forward on its examination. 60 votes will be needed. Republicans hold 53 seats. Even with their entire group, they will therefore need Democrats.

Brian Armstrong thinks it is possible. The Coinbase CEO reminds that the text had obtained broad support in the House of Representatives. In July 2025, 294 members had voted in favor. 134 against. In the Senate, the pace changes. The Banking Committee had already approved the text by 15 votes to 9. Now the entire chamber must be convinced.

Seven Democrats may be enough. On paper. Brian Armstrong does not put all his bets on Congress. If the vote fails, regulators will continue their work. The CFTC is notably preparing a new framework for platforms trading crypto assets on the spot market. The SEC is also progressing on its own rules. Both agencies have been working for several months on the classification of digital assets, platforms, and the division of their responsibilities.

The CLARITY Act Still Has Several Issues

The CLARITY Act aims precisely to set this boundary in law. The CFTC would regain a good part of the crypto spot market. The SEC would keep oversight of assets considered financial securities. Armstrong therefore sees two paths. The first goes through the Senate. The second through the regulators. A law passed by Congress offers greater stability. A new administration can much more easily modify a rule adopted by an agency.

Crypto companies obviously prefer the first option. They might have to settle for the second. Disagreements did not disappear over the summer. Stablecoins continue to pose a problem. Banks and crypto companies particularly clash over the rewards paid to users who hold certain tokens backed by the dollar.

Donald Trump also reappears in the discussions. Democrats demand stricter rules for politicians with interests in crypto companies or projects. The Trump family notably has several activities in the sector.

Proposals seek to regulate these ties. Negotiations had already stalled on this subject despite several concessions from Trump. The schedule is also becoming tight. The midterm elections are approaching. The further the campaign progresses, the less time the Senate will have to process a text of several hundred pages. Brian Armstrong remains confident. He believes American crypto will soon obtain greater regulatory clarity. Either through Congress or through agencies. September 15 will already give a good indication.