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FollowingThe CLARITY bill faces a tight timetable
On September 8, 2026, Coincoin Vice Chairman Ryan VanGrack pointed out in an interview with Bloomberg Crypto that tokenization and on-chain finance are not concepts of the future, but realities that are already in practice. He told hosts Scarlet Fu and Tim Stenovec that tokenization is reshaping the way capital markets work today. His remarks came a week before a key Senate vote.
The Senate is scheduled to hold a cloture vote on the CLARITY bill on September 15. The bill needs 60 votes to move forward. The Republican Party currently holds 53 seats, which means the support of at least a few Democratic lawmakers is needed. The House had previously passed the bill, with a vote of 294 in favor and 134 against.
The Senate Banking Committee promoted the bill with a 15 - 9 vote as early as May 2026. Since then, the bill stalled over the summer due to differences on multiple issues. These differences include ethics provisions related to officials holding cryptocurrencies, disputes over stablecoin rewards, and protection issues for software developers building decentralized financial instruments.
On September 4, a major obstacle was removed. The National Sheriffs Association withdrew its opposition to the bill and took a neutral stance. Previously, the group's opposition had been used to influence wavering Democratic senators. Senator Cynthia Lummis warned that if the bill fails, the next real opportunity may not wait until 2030.
After the interview aired, VanGrack posted a statement on social media, writing: "The CLARITY Act is an opportunity for the United States to establish global standards and keep innovation at home. Capital and talent follow clear rules. On-chain finance and tokenization are not coming-they are here. The question is not whether they will change the market, but where. Don't hand over the future to others, lead it."
Coinbase products are already operating in this space
VanGrack's remarks are supported by products Coinbase has launched. The company provides stock tokenization services to companies such as Nvidia, Google, MicroStrategy and Bullish. These tokens are endorsed one-on-one by real shares and can be converted into underlying shares, and the holders are eligible for dividends.
Coinbase also received regulatory approval from Abu Dhabi. The approval allows companies to provide tokenized securities services through the Abu Dhabi Global Markets (ADGM) regulator. This approval is independent of any U.S. law and means that even if the Senate vote fails, Coinbase's tokenization business can continue to grow overseas.
On the same day as the Bloomberg interview, Coinbase's Deribit unit began offering stock and commodity contracts. These contracts are traded around the clock and are endorsed by the stablecoin USDC. In addition, Chainlink also enables Coinbase's tokenized shares to be used as collateral in a decentralized financial platform based on the Base Network, allowing holders to borrow money with their tokenized shares.
VanGrack's public role is newly established. After Paul Grewal left office over Coinbase's legal battle with the Securities and Exchange Commission, VanGrack took over government relations responsibilities. Molly Abraham subsequently became the company's general counsel. Coinbase's strategic focus has shifted from responding to litigation to directly participating in policy shaping. [TAG
Binance founder Changpeng Zhao also made a similar point on September 8, saying that stock issuance will eventually move to blockchain networks. A Senate vote on Sept. 15 will determine how America responds to that shift. For now, Coinbase's tokenized products remain active and open to traders regardless of the outcome of the vote.
