The CEO of Coinbase says that Clarity Act is a freight train leaving the station

by

CEO of Coinbase, Brian Armstrong, said that critical legislation to advance the crypto in the United States “good chance of being done” after having attended a strong bipartite support for the bill on the structure of the cryptographic market this week.

The law on the clarity of the digital asset market aims to clarify the roles of the Securities and Exchange Commission, the Commodity Futures Trading Commission and other financial agencies which regulate the cryptography market, in particular non-states such as token actions.

After meeting the legislators in recent days, the CEO of Coinbase, Brian Armstrong, said: “This is how we ensure that the cryptographic industry can be built here in America, stimulating innovation and protecting consumers and we assure that we never have another Gary Gensler trying to take your rights.”

“The Senate is firmly favorable to doing this; the members I have met on both sides of the aisle are ready to have this legislation adopted,” said Armstrong in a video published on X, noting that the bill is exchanged in both directions before going to industry participants for the public’s contribution.

“I think that is a good chance of doing it, I have never been so optimistic about the market structure (Bill) that prevails, it is a freight train leaving the station.”

Senator Cynthia Lummis predicted earlier this month that the law on clarity would go to the office of President Donald Trump to sign before the end of the year.

Among the other representatives of the crypto that would have been present, leaders of Ripple, Kraken, Circle, Cardano and venture capital companies focused on A16Z, Paradigme and Multicoin Capital technology.

The bill must prioritize the protection of manufacturers: Kraken Boss

Kraken CEO, Arjun Sethi, said that his contributions to the round table have focused on how the market structure bill can support cryptographic products and services in a way that benefits its manufacturers in priority.

“Thank you to all those in DC are fighting for the future of the crypto. But the real fight is more important: to protect the right to build protocols, chains, memes, tokenized actions, basic products, public services, etc. And to ensure that the incentives remain with the manufacturers, not only the operators. ”

Armstrong has also added that legislators will not allow the attempt in the banking sector to prohibit interest on the floors. In mid-August, several banking groups have warned that ecunines for yields could threaten the traditional banking model, which depends on the attraction of deposits with high interest savings products to finance loans.

Banking groups have already tried to prohibit the interest of stables of the law on engineering, but have not succeeded, noted Armstrong.

Bitcoin Reserve Bill is also growing

It seems to have been a productive week on Capitol Hill.

American legislators also met 18 Bitcoin leaders on Monday, including the president of the strategy Michael Saylor, to discuss how the congress can move forward with the Bitcoin strategic reserve of the Trump administration.