Brian Armstrong says CLARITY Act protects consumers

Coinbase CEO Brian Armstrong urged senators to support the CLARITY Act during an Aug. 20 interview, arguing that permanent legislation could protect crypto users and limit regulatory overreach by future administrations. Summary Senate records schedule the CLARITY Act cloture motion for September 15 at 2:15 p.m. Eastern. Armstrong said statutory crypto rules would protect consumers while limiting future government regulatory overreach risks. The House passed H.R. 3633 by 294-134 before Senate Banking advanced it 15-9 in May. Sixty Senate votes are required for cloture, leaving Republicans dependent on support from several Democrats. September 16 agency action remains Armstrong’s stated alternative, not a finalized SEC-CFTC rulemaking outcome yet. The campaign is approaching a confirmed deadline. Senate records show that the cloture motion on H.R. 3633 will ripen on Sept. 15 at 2:15 p.m. Eastern. The vote concerns whether the Senate should begin considering the bill. It is not a final vote on passage. Armstrong says CLARITY would protect consumers “The current status quo today is that there isn’t much clarity about what the rules are,” Armstrong told CBS. He said the resulting uncert...