Coinbase CEO Flags US Crypto Consumer-Protection Gap

Coinbase CEO Brian Armstrong said the US lacks federal laws protecting crypto consumers, pointing to the CLARITY Act as a potential fix. The bill, which has cleared the House and the Senate Banking Committee, would set federal rules for digital assets, split oversight between the SEC and the CFTC, and require registration, disclosures, and anti-fraud measures. Armstrong's comments land as lawmakers debate whether the legislation strengthens or weakens existing protections.

The next catalyst is President Donald Trump's position on the act, along with any statements from Treasury Secretary Scott Bessent or Senate Banking Committee Chairman Tim Scott. Support or opposition from those figures could shift the bill's odds and affect crypto prices. Any Senate or House action that signals progress or a stall will also matter.