Coinbase CEO Brian Armstrong has dismissed claims of a confrontation with the White House over the proposed CLARITY crypto market structure bill, emphasizing that discussions with policymakers remain active and constructive. His remarks come amid heightened scrutiny of the legislation, which aims to define how digital assets are regulated in the United States.
Armstrong stated that reports suggesting the administration is considering withdrawing support for the bill are inaccurate. According to him, the White House has encouraged continued dialogue, particularly around finding solutions that address concerns from community banks. He noted that the crypto industry is currently working on multiple proposals to bridge differences and refine the bill’s language.
Coinbase recently stepped back from endorsing the CLARITY Act after reviewing a draft it viewed as harmful. Armstrong warned that certain provisions could undermine decentralized finance, restrict tokenized stock trading, and prevent stablecoin issuers from sharing yield with users. He described these measures as “catastrophic” for consumers, arguing that passing flawed legislation would do more harm than delaying reform.
Lawmakers have postponed the Senate Banking Committee’s markup of the bill to allow more time for negotiations. While some industry leaders see the CLARITY Act as a step toward regulatory certainty, others believe it prioritizes traditional banking interests over innovation. Armstrong expects a revised draft within weeks, signaling that the outcome remains undecided but negotiable.
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