Coinbase CEO sees crypto regulation advancing regardless of Clarity Act
Coinbase CEO Brian Armstrong expresses optimism regarding the passage of the Clarity Act, which aims to establish a federal regulatory framework for digital assets in the U.S. He notes that even if the bill fails, the industry expects regulatory clarity from the SEC and CFTC shortly thereafter.
Why it matters
Regulatory clarity is a critical milestone for the institutional adoption of cryptocurrency and the future of digital asset markets in the United States.
The Clarity Act, which seeks to establish a U.S. federal framework for digital assets, is likely to pass given broad support from crypto firms, law-enforcement groups and several banks, Coinbase CEO Brian Armstrong said.
The legislation was ready to be supported by the Senate, Coinbase CEO Brian Armstrong told CNBC's " Squawk Box Asia " on Thursday, saying people he has spoken with are on board with the legislation.
While Armstrong was upbeat about the prospects of the legislation getting the Senate's approval, he said even if that doesn't happen, the sector will get greater regulatory clarity.
"Frankly, if it doesn't pass, it's also going to be a good outcome because the SEC and the CFTC have said that they're ready to publish rulemaking, and we're going to get regulatory clarity one way or another on the 15th or the day or two after," he said.
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