Coinbase CEO Says CLARITY Act Is at ‘One-Yard Line’ Before Senate Recess

Highlights:

• Coinbase CEO Brian Armstrong urged senators to pass the CLARITY Act before the August recess.
• Armstrong said the bill would protect consumers, strengthen enforcement, and provide clearer rules for crypto companies.
• He said Coinbase would keep building in America but may expand overseas if Congress delays action.

Coinbase CEO Brian Armstrong has urged U.S. senators to pass the CLARITY Act before the August recess, saying the crypto market structure bill is close to completion after lengthy bipartisan negotiations. During a July 21 interview with CNBC from Capitol Hill, Armstrong said, “The CLARITY Act is at the one-yard line.” He added that lawmakers and their staff had spent thousands of hours working toward a bipartisan compromise.

Armstrong said the legislation would strengthen law enforcement powers, introduce new consumer protections and provide clearer federal rules for the U.S. crypto industry. He argued that Congress should act because “the status quo is not going to work.”

ICYMI: Coinbase CEO Brian Armstrong said he's optimistic the Clarity Act will pass. 🇺🇸

However, in the event that it doesn't pass, they will continue to build their company, "some of it in the United States and some of it offshore."

pic.twitter.com/hfDQk8Kua8

— The Moon Show (@TheMoonShow) July 22, 2026

Coinbase Calls for Lasting U.S. Crypto Rules

Armstrong said Coinbase currently works with an administration and regulators that are more supportive of digital assets. However, regulatory policies can change whenever a new administration takes office. Therefore, Coinbase wants Congress to establish a legal framework that can remain in place across different administrations.

“We at Coinbase believe that we should actually get clear statute,” Armstrong said. He explained that federal legislation would allow companies to invest in the United States with greater certainty over the long term. The Coinbase CEO also said he wants the company to keep most of its operations in the country. “We’re an American company. We’re based here. I’m proud to be an American,” Armstrong said. “I would like to continue to put the majority of our business here onshore.”

However, he warned that companies could continue investing in overseas markets where crypto rules are already clearer. Armstrong said digital assets cannot be “uninvented,” leaving the United States to decide whether the industry should grow within its regulatory system or move further offshore.

Ethics Language Remains a Key Senate Issue

The bill still faces concerns from Democrats, including questions about illicit finance, consumer safeguards and political ethics. Armstrong said Coinbase had focused on the crypto policy sections of the bill and left the ethics discussions to lawmakers. He added that public reports indicated President Donald Trump had agreed to an ethics compromise.

However, Armstrong did not claim that he had personally reviewed a final agreement. He said he hoped the ethics provision would appear in updated draft legislation expected within the following days. The development came as crypto markets reacted positively to signs of progress in Washington. Bloomberg reported on July 21 that Bitcoin rallied after Treasury Secretary Scott Bessent also described the CLARITY Act as being at the “1-yard line” and urged Congress to complete the legislation before the recess.

CLARITY Act Is At The 'One Yard Line'

U.S. Treasury Secretary Scott Bessent says the Clarity Act is at the "1 yard line" and urged Congress to pass the bill before lawmakers leave for recess, Bloomberg reports.

His comments helped lift crypto markets, with Bitcoin rising as… pic.twitter.com/8YTKSRDaKx

— BSCN (@BSCNews) July 22, 2026

Coinbase Says Business Will Continue if CLARITY Act Stalls

Armstrong remained optimistic that lawmakers would approve the bill. Still, he said Coinbase would continue building if Congress failed to act. The company would keep operating in the United States while conducting some activity in overseas markets with clearer rules. Armstrong acknowledged that the current regulatory environment might be more permissive in the short term. However, Coinbase prefers a federal statute that gives businesses and investors confidence over the long term.