TL;DR
- Coinbase CEO Brian Armstrong expressed confidence that the Crypto Market Structure Bill could advance in the Senate before Thanksgiving, thanks to an unusual level of bipartisan cooperation.
- Armstrong stated that 90% of the legislative text is already agreed upon, with the remaining details being finalized between senators and industry executives.
- The initiative, known as the CLARITY Act, aims to create a clear distinction between securities and digital commodities, offering a more stable national regulatory framework for digital assets in the United States.
The long-discussed U.S. Crypto Market Structure Bill appears to be gaining fresh momentum in Washington. Coinbase CEO Brian Armstrong said in a recent interview that he believes bipartisan cooperation could finally deliver progress before Thanksgiving. Following a series of productive meetings with lawmakers from both parties, Armstrong described the tone as unusually constructive for such a complex topic.
Crypto Regulation Nears Consensus Among Lawmakers
The CLARITY Act, officially titled the Digital Asset Market Clarity Act, passed the House of Representatives in July with strong bipartisan support. Armstrong noted that most of the remaining disagreements are minor and could be resolved “once everyone sits down together.” According to him, the legislation is about 90% complete, with final negotiations focusing on oversight boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
If approved, the bill would provide long-awaited clarity by defining which tokens qualify as securities and which as commodities. It also introduces clearer guidance for decentralized finance (DeFi), institutional custody, and secondary market trading—areas that have suffered from fragmented regulation for years. Armstrong emphasized that this framework could
“strengthen innovation, protect consumers, and keep the U.S. ahead in the digital economy.”
Industry Leaders and Senators Drive Collaborative Talks
Earlier this week, Armstrong joined executives from Kraken, Uniswap Labs, and Chainlink Labs in meetings with senior senators including Tim Scott, Chuck Schumer, and Kirsten Gillibrand. Participants described the discussions as more detailed and cooperative than in past sessions. Senate Banking Committee representatives later confirmed that both parties are working toward a unified draft that balances innovation with investor protection.
The CLARITY Act builds on the GENIUS Act, a stablecoin regulation bill signed earlier this year, marking the first coordinated effort to integrate digital assets into federal law. Senator Cynthia Lummis remains optimistic the bill could reach the president’s desk before year-end, while Senator Scott reaffirmed the Senate’s goal of finalizing it before the Thanksgiving recess.
Despite political frictions and procedural delays, optimism across the crypto industry remains high. Many believe that genuine bipartisan collaboration on this legislation would mark a turning point for digital assets in the United States.
