As the Senate Banking Committee prepares to mark up the long-anticipated 
CLARITY Act on Thursday, Coinbase CEO Brian Armstrong has argued that the 
newest version of the bill represents a workable “compromise” and could 
meaningfully improve the US financial system. Speaking to FOX Business, 
Armstrong said the updated draft reflects concessions on both sides—what he 
described as the crypto industry meeting requests from bank lobbyists and 
lawmakers, while the banking sector also gave ground during negotiations. 
Coinbase CEO’s CLARITY Act Pitch Armstrong also highlighted one specific 
element tied to stablecoin rewards. He said the approach in the latest bill 
would only apply when there is “some sort of material activity on the 
account,” adding that he believes the overall package would make the system 
“more efficient.” The claim is that the legislation would help streamline 
financial services, reduce friction, and make access easier for consumers and 
businesses—while still keeping the framework aligned with banking-sector 
concerns that were raised during talks. Related Reading: New CLARITY Act Text 
Is Out: Expert Claims XRP Looks Strong In The Details Still, critics point to 
the banking industry’s pushback as evidence that the dispute is far from 
settled. As reported throughout the week by Bitcoinist, banking trade groups 
have opposed the CLARITY Act’s stablecoin-rewards provision, arguing that it 
could give crypto firms too much flexibility. Their position is that the 
policy might also encourage deposits to shift away from traditional, insured 
banking channels rather than strengthening them. Beyond the details of 
stablecoin rules, Coinbase CEO argued that the broader direction of the 
CLARITY Act reflects growing institutional interest in digital assets. In his 
view, banks are increasingly integrating stablecoins and crypto-related 
services because customer demand is rising—an angle that suggests the bill, if 
passed in its current form, could provide the clearer structure institutions 
want before expanding further. Can The Latest Crypto Bill Draft Survive? 
Supporters of the bill are not limited to Coinbase. Ripple CEO Brad 
Garlinghouse also backed the current push, commenting on social media site X 
(previously Twitter) that the Senate Banking Committee is “putting in the 
work” to move the CLARITY Act forward. Garlinghouse’s message emphasized that 
Ripple supports the bill because crypto businesses and major participants 
should have the “same rules and protections as every other asset class,” and 
because—if the US is serious about leading in crypto—this is the moment to 
finalize legislation and get it done. Even with that backing, the legislative 
road ahead is not smooth. Politico reported that Senator Elizabeth Warren, a 
well-known crypto skeptic, is vowing to pursue extensive changes to the bill 
through amendments. Related Reading: First Hyperliquid ETF Launch: Day One 
Volume Hits $1.8M–Key Details The reporting says Warren and others are 
preparing more than 100 amendments ahead of the markup, following the release 
of an updated 309-page draft that expands on an earlier 278-page version 
introduced in January. According to the same reporting, Warren submitted more 
than 40 amendments on her own, with much of the rest attributed to Democratic 
members of the Banking Committee. This mirrors earlier moves around the bill: 
the January markup session drew 137 amendments, and it was eventually 
cancelled after a period of resistance that included Armstrong and Coinbase 
withdrawing support for the bill at the time. For now, the core question going 
into Thursday’s markup is whether the latest CLARITY Act draft can hold 
together. Featured image created with OpenArt, chart from TradingView.com

Coinbase CEO Unpacks The Crypto Bill’s Biggest Promise For The US Financial System

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Coinbase CEO Unpacks The Crypto Bill’s Biggest Promise For The US Financial System

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