Coinbase CEO Brian Armstrong has publicly reversed his position on the CLARITY Act (Digital Asset Market Clarity Act), now urging Congress to pass the legislation after months of negotiations. This marks a significant shift from his stance in January 2026, when he stated Coinbase could not support the bill "as written" due to serious concerns.
The endorsement came in a post on X on April 10, 2026, where Armstrong stated the current version of the bill, shaped by months of bipartisan negotiations involving lawmakers, crypto firms, and banking industry representatives, had become a "strong bill." He explicitly aligned his position with recent comments from U.S. Treasury Secretary Scott Bessent, who urged Congress in a Wall Street Journal op-ed to move ahead with the legislation.
The earlier withdrawal of Coinbase's support three months prior was impactful enough to delay a scheduled markup vote in the Senate Banking Committee. Key sticking points at the time included issues around stablecoin yield, tokenized equities, and ethics provisions. The recent shift indicates that the negotiation process has addressed enough of the industry's concerns for Coinbase, the largest U.S. crypto exchange, to publicly defend it.
The political landscape for the bill has strengthened considerably. The endorsement from Treasury Secretary Bessent adds significant policy weight beyond crypto industry lobbying. Furthermore, reports indicate Armstrong met with U.S. President Donald Trump before Trump's public call for action on crypto rules. Other major firms like Paxos, Ripple Labs, BitGo, Circle, and Fidelity Digital Assets have also recently received regulatory approvals, signaling a friendlier climate.
Legislative progress has been slow but steady. The Senate Agriculture Committee approved the bill in January 2026. The Senate Banking Committee, responsible for a different part of the legislation covering securities rules (while Agriculture handles commodities), has yet to schedule its crucial markup vote, which is required before a full Senate vote can occur.
