Coinbase CEO says crypto adoption keeps growing despite Senate delaying the CLARITY Act. The bill, now expected in September, covers stablecoins, exchange registration and ethics rules.
Alpha Score of 37 reflects weak overall profile with poor momentum, weak value, poor quality, strong sentiment.
Coinbase CEO Brian Armstrong said crypto adoption and industry growth remain strong even after the Senate failed to advance the CLARITY Act, a major US crypto market structure bill, this week.
Armstrong called the delay disappointing. The broader digital asset industry continues to move forward, he told reporters. He pointed to rising stablecoin adoption, expansion in tokenized real-world asset markets and growing perpetual futures activity as evidence of continued momentum.
Regulatory clarity is improving in some areas, and more consumers and businesses are using digital assets, Armstrong said. The technology's growth is continuing regardless of Congress' legislative schedule.
Senate Majority Leader John Thune has said the CLARITY Act will be a priority when lawmakers return from recess. The bill is now expected to receive Senate consideration in September.
The legislation aims to establish clearer US crypto rules and define the responsibilities of the Securities and Exchange Commission and the Commodity Futures Trading Commission. The latest Senate draft proposes a CFTC-led framework for digital commodities, including registration requirements for crypto exchanges, brokers, dealers and advisers. It also covers qualified digital asset custodians.
Stablecoin regulation is another key piece. The proposal generally limits interest or yield paid solely for holding payment stablecoins while potentially allowing activity-based rewards tied to payments, remittances, liquidity provision, staking and loyalty programs. Banks and credit unions would receive clearer authority to use blockchain and digital assets for activities they are already permitted to conduct.
Ethics provisions remain a major sticking point in Senate negotiations. Revised language would restrict public officials and their spouses from issuing or sponsoring digital assets for compensation while in office and prevent intermediaries from listing tokens that violate those restrictions. Officials could still hold crypto as investments under existing disclosure rules. The proposed restrictions would expire in January 2029. Talks have also focused on safeguards involving President Donald Trump's crypto-related business interests.
Armstrong maintains that Congress remains important for establishing clear US crypto market structure rules, which he said could strengthen consumer protections while supporting investment, innovation and job creation.
The comments come amid broader crypto market analysis that shows rising activity in the sector despite the legislative uncertainty.
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