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FollowingThe U.S. cryptocurrency bill ushered in a key vote
September 15 is approaching, and the U.S. cryptocurrency field is ushering in an important juncture. The Senate must decide whether to advance the CLARITY Act-a bill that the industry has long awaited requires at least 60 votes in support. Brian Armstrong believes that threshold is still possible. If Congress obstructs it again, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are ready to initiate follow-up plans.
Cryptocurrency gains votes in Senate
The CLARITY Act is back on the agenda after weeks of suspension. The bill was already behind schedule before summer. September 15 is not the final adoption date. The Senate first needs to vote to decide whether to continue consideration of the bill, which requires 60 votes. The Republican Party currently occupies 53 seats. Even if all the party votes in favor, it still needs to win the support of the Democratic Party.
Brian Armstrong thinks this is feasible. The Coinbase CEO pointed out that the bill had previously received widespread support in the House-in July 2025, 294 members voted in favor and 134 against. After entering the Senate, the pace changed. The Banking Committee had previously passed the bill with 15 votes to 9 and now needs to convince all senators.
In theory, it is enough to win the support of seven Democratic lawmakers. But Brian Armstrong did not place all his hopes in Congress. If the vote fails, regulators will move forward. The CFTC is developing a new framework for a platform for trading crypto assets on the spot market, and the SEC is improving its own rules. The two agencies have been studying digital asset classification, platform supervision and division of responsibilities for months.
The CLARITY Act is still controversial
The bill aims to clarify regulatory boundaries at the legal level: the CFTC will regain dominance of most crypto spot markets, while the SEC retains the right to regulate assets considered financial securities. Armstrong therefore sees two paths: one is through Senate legislation, and the other is through regulators to create rules. Laws passed by Congress have greater stability, and a new administration can more easily change rules set by agencies.
Crypto companies clearly prefer the first path, but may have to accept the second path. Throughout the summer, differences between the parties did not dissipate. The issue of stablecoins continues to be controversial, with banks and crypto companies particularly conflicting over the issue of rewards for users holding certain dollar-linked tokens.
Donald Trump also appeared in the discussion again. Democrats are calling for stricter rules for politicians with interests in crypto companies or projects. The Trump family has multiple businesses in this field, and the proposal attempts to regulate these connections. Despite Trump's repeated concessions, the negotiations remained deadlocked. Time is running out and the midterm elections are approaching. As the campaign progresses, the Senate will have less and less time to process the hundreds of pages of bill. Brian Armstrong remains confident that the U.S. cryptocurrency sector will soon receive clearer regulatory guidance-either through Congress or regulators. The September 15th vote will send an important signal.
