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BTC Coinbase CEO Brian Armstrong: No matter how the Senate votes, the U.S. crypto industry will achieve federal regulatory clarity.
Coinbase CEO Brian Armstrong said that regardless of the Senate's vote on the CLARITY Act on September 15, the U.S. crypto industry will achieve regulatory clarity at the federal level. In an interview with CNBC's "Squawk Box Asia" program on Thursday, he pointed out that this week will present two possible outcome paths for the industry.
Armstrong defends bill
Armstrong said the bill has broad cross-party and industry support, although lawmakers are still negotiating ethics provisions to regulate digital asset holding by elected officials.
"If Majority Leader John Thune didn't think the bill would pass, he wouldn't have scheduled a vote on September 15," Armstrong said. "I'm very confident it can get more than 60 votes in support, and I think both sides get about 90% of what they want."
Armstrong said details of the ethics terms were still being worked out, but appeared to be "very close to a solution" before the vote. He described the possibility of potential passage of the bill as a "regulatory checkpoint" that would help free up institutional capital and pave the way for the launch of products such as tokenized stocks in the United States.
The road to a Senate vote has not been smooth sailing. Negotiators failed to reach a final agreement before lawmakers left Washington for an August recess. Subsequently, Senate Majority Leader John Thune filed a cloture motion, establishing a September 15 voting schedule.
Supporters typically need to obtain 60 votes to overcome this procedural hurdle. Republicans currently hold 53 seats, which means at least seven Democratic or independent votes are needed.
As of September 6, Polymarket odds that the bill will become law in 2026 have plummeted from 82% in February to 16%, while Galaxy Research predicts a probability of only 10%.
Alternative plan if the vote fails
Armstrong told CNBC that the Senate vote on the CLARITY Act was not a black and white moment for the industry. "If it passes, great, we have legislation," he said. "Frankly, even if it doesn't pass, it's a good result because the SEC and CFTC have said they are ready to issue rulemaking." He added that regulatory clarity would come "in any case on the 15th or a day or two after that."
Digital Asset Market Clarity Act (H.R. 3633) aims to divide regulatory powers between the SEC and the CFTC. The SEC will handle tokens that are considered securities, while the CFTC will regulate decentralized digital goods such as BTC. The House passed the bill with a vote of 294-134 in July 2025, and the Senate Banking Committee also advanced the relevant version with a vote of 15-9 in May 2026.
If the closing debate vote fails, the CLARITY Act will effectively expire in 2026, making SEC and CFTC rulemaking the industry's primary avenue to achieve regulatory certainty in the near term.
