Coinbase CEO Backs CLARITY Act Ahead of September Vote as Bitcoin Jumps 5.9%
Updated
Updated · CBS New York · Aug 20
Coinbase CEO Backs CLARITY Act Ahead of September Vote as Bitcoin Jumps 5.9%
3 articles · Updated · CBS New York · Aug 20
Summary
Brian Armstrong said the bipartisan CLARITY Act would add consumer protections and clearer crypto rules, arguing it could help prevent another FTX-style collapse when the Senate votes in September.
The bill would put digital assets under joint SEC and CFTC oversight, replacing a legal gray area that Armstrong said has left ordinary Americans exposed to harm.
Bitcoin rose 5.9% and ethereum 2.8% on Thursday as Trump pressed Congress to pass the measure after meeting Armstrong and other tech leaders at the White House.
Conflict-of-interest questions are shadowing that push because Trump's family is expanding crypto ventures; Armstrong cited the bill's ethics provision, while Elizabeth Warren said it still leaves room for Trump to profit.