Coinbase chief executive 
Brian Armstrong on Wednesday publicly backed the CLARITY Act ahead of a Thursday Senate Banking Committee markup, calling the digital-asset market-structure bill the closest a comprehensive crypto law has come to advancing in the US Congress. Armstrong said the bill is "closer than ever" to advancing after months of negotiations between the crypto industry and banks, Cointelegraph reported, and framed Thursday's vote as the deciding moment for whether the legislation moves to the Senate floor. The CEO described the legislation as a measure that could "rewire American finance" if enacted, Bitcoin Magazine reported.
What is the CLARITY Act? The bill is a market-structure proposal that would allocate oversight of digital assets between the SEC and CFTC, defining when a token is a security and when it is a commodity. Senators have filed amendments covering DeFi rules, references to the Trump family's digital-asset ventures, and provisions tied to an unrelated Jeffrey Epstein matter, Decrypt reported, signaling that the markup will be contested on both substance and politics.
What happens at markup? The Senate Banking Committee was set to vote Thursday on the amendments and then decide whether to refer the bill to the full Senate, Decrypt reported. A favorable committee vote does not guarantee floor passage, but Armstrong's public push reflects industry expectations that the next 48 hours determine whether the bill advances this session.
Why does this matter for Coinbase? Coinbase has spent more than two years lobbying for a US market-structure framework that would settle the long-running SEC dispute over which tokens are securities. Armstrong has framed legislative clarity as the precondition for institutional flow back into US exchanges, a point Bitcoin Magazine quoted directly. The CEO's intervention is tied to the bill's narrow window before the legislative calendar tightens later this year, Cointelegraph reported.
Figures referenced: Brian Armstrong. — JudgeMarket.
