Coinbase CEO Brian Armstrong publicly backed U.S. Treasury Secretary Scott Bessent’s appeal for Congress to move quickly on the Digital Asset Market CLARITY Act. In an April 10 post on X, Armstrong thanked Bessent, urged lawmakers to pass the bill and praised bipartisan efforts by senators and staff to strengthen the measure.
Bessent, in a Wall Street Journal op-ed shared on X, argued that “digital asset rules need clarity” and called on Congress to create a formal regulatory framework for crypto markets, including clear rules for stablecoins. He warned that lawmakers have spent years trying to establish a domestic framework for the future of finance and said Senate time is limited, so action is needed now.
The CLARITY Act has been attracting increasing Senate attention. Coinbase had previously withdrawn support for a separate Senate market-structure bill amid disputes over stablecoin provisions—most notably rules on yield—though some of those issues were later addressed. Coinbase chief legal officer Paul Grewal has since indicated the CLARITY Act could be approaching a markup in the Senate Banking Committee, while noting final progress depends on resolving remaining disagreements over stablecoin yield rules.
Other industry leaders have voiced similar concerns about regulatory uncertainty. Ripple CEO Brad Garlinghouse has also argued that clarity is preferable to chaos and expressed optimism about the bill’s chances, at one point suggesting the CLARITY Act had a strong likelihood of passing in the near term.