CLARITY Act vote may not decide fate of US crypto rules: Coinbase CEO

Coinbase CEO Brian Armstrong has said the U.S. crypto industry could get clearer federal rules regardless of whether the CLARITY Act clears its key Senate test on Sept. 15. Summary Coinbase CEO Brian Armstrong expects US crypto regulatory clarity regardless of whether the CLARITY Act advances on Sept. 15. Armstrong said the SEC and CFTC are prepared to publish crypto rules if the legislation fails to move forward. Ethics rules for elected officials remain under negotiation, though Armstrong said the two sides appear close to an agreement. Armstrong maintained his $400,000 Bitcoin target for 2030 and said the bottom is in for the current cycle. CNBC reported Wednesday that Armstrong expects either Congress or federal regulators to provide the industry with a clearer framework after the vote, arguing that the Securities and Exchange Commission and Commodity Futures Trading Commission are prepared to move forward with their own rules if lawmakers fail to advance the legislation. “If it passes, great, we’ve got legislation,” Armstrong said. “Frankly, if it doesn’t pass, it’s also going to be a good outcome because the SEC and the CFTC have said that they’re ready to publish rulemaking,...