Momentum is marching for U.S. crypto rules as Coinbase backs the Clarity Act, and Congress fumbles for a decent applause.
In the crypto circus, Brian Armstrong has hopped on board the Clarity Act after earlier jitters, joining forces with Scott Bessent, who’s shouting from the balcony, “Act now, or the joke’s on you!” This marks a bold leap from months of wobbling signals and cryptic confusion. With support swelling from both industry and government, the big question is: can Congress shuffle to the finish line fast enough to pin down real rules for digital assets?
Coinbase Switches Gears as Clarity Act Gains Bipartisan Backing
Support for the Clarity Act is picking up speed after Armstrong’s public endorsement. He publicly backed the proposal, signaling a departure from the company’s earlier hesitation. Earlier drafts had sticky issues about stablecoins, but the latest revisions seem to have ironed out the wrinkles.
Meanwhile, momentum comes from inside government too. Scott Bessent urged lawmakers to move quickly, arguing digital assets already play a major role in the economy. Armstrong echoed that stance, thanking policymakers for bipartisan work and calling the bill “strong.”
We agree. Thank you for saying it. It’s time to pass the Clarity Act.
Grateful for all the bipartisan work among Senators and staff over the past several months to make this a strong bill.
– Brian Armstrong (@brian_armstrong)
Bessent’s stance, as reported in the Wall Street Journal, focuses on the market’s scale and growing influence. He notes that millions hold digital assets and institutions are expanding their involvement. With adoption rising, regulatory gaps become more obvious.
According to Bessent, regulatory uncertainty has slowed domestic growth. Conflicting approaches from the SEC and CFTC created confusion for developers and investors. Enforcement actions too often replaced clear guidance, leaving firms unsure of what compliance even means.
That lack of clarity pushed innovation offshore, with Abu Dhabi and Singapore luring crypto businesses with defined registration paths and operating rules. For many firms, U.S. regulatory risk outweighed the upside.
Spreading Oversight: Clarity Act Gains Backing as U.S. Eyeing Full Crypto Regulation
Under a nod to the past, the so-called Genius Act during the Trump era introduced a framework for dollar-backed stablecoins, a move some called “anchor the dollar, not the fear.” Lawmakers still saw gaps outside stablecoins. The Clarity Act aims to close those gaps by defining when digital assets qualify as securities and by assigning regulatory responsibilities with a little more gravity and a lot less zig-zagging. It also lays out registration paths for trading platforms and adds disclosure and custody standards.
Bessent frames the bill as essential for the economy and national security. Bringing crypto activity under clear rules could strengthen oversight and reduce dependence on offshore players. It could also boost domestic blockchain infrastructure and tools tied to tokenized assets.
Armstrong’s endorsement adds a big private-sector punch. With industry and government voices converging, the Clarity Act stands as a central plot twist in the next chapter of U.S. crypto policy.
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2026-04-11 03:13