Efforts to create clear rules for cryptocurrencies in the U.S. are gaining momentum, with lawmakers and a leading figure in the crypto industry surprisingly working together.
Brian Armstrong recently voiced his support for the Digital Asset Market Clarity Act, increasing pressure on Congress to consider the bill. This comes as lawmakers in Washington are also starting to refocus on the legislation.
Treasury Steps In As Urgency Builds In Washington
A major figure in the American cryptocurrency world has switched his stance on a key piece of legislation. Brian Armstrong, the CEO of Coinbase, announced on social media that he now supports the Clarity Act of 2025 – a bill he previously opposed twice. This marks a significant change in position for one of the industry’s leading voices.
Armstrong’s statement comes after a strong opinion article in the Wall Street Journal by Treasury Secretary Scott Bessent, and suggests the long-running debate in Congress about how to regulate the US crypto market might be nearing a resolution.
Following a public call to action from Scott Bessent, debate around the CLARITY Act has intensified. Bessent warned that the U.S. could lose its leadership position in the rapidly evolving world of digital finance if clear rules aren’t established. He pointed out that Congress has been working on this issue for years and that further delay is no longer an option.
The Treasury Secretary highlighted that countries like Abu Dhabi and Singapore have clearer rules for crypto, which has attracted blockchain developers and entrepreneurs. Passing the CLARITY Act is crucial to encourage these innovators to return to the United States, as many have moved their businesses overseas.
He stated that the best way to encourage developers and entrepreneurs to bring their work back home is through stable and lasting laws.
This proposal builds on the GENIUS Act – a stablecoin law signed by President Trump in July 2025 – demonstrating that advancement in this area is achievable. However, the full potential of that progress can only be unlocked with the CLARITY Act’s support.
Armstrong Expresses Support
Armstrong responded to Bessent opinion, noting how it is time to pass the Clarity Act.
The Coinbase CEO expressed appreciation for the collaborative effort of Senators and their teams over recent months, which resulted in a well-crafted bill.
Armstrong’s reaction to Bessent’s comments marks a significant shift for Coinbase, a company that has been involved in the development of this legislation. Earlier, in January 2026, Armstrong announced that Coinbase was withdrawing its support for the proposed Senate Banking Committee draft, explaining that it was a step backward from existing regulations and that the company would prefer no bill at all to a flawed one.
SEC Chair Paul Atkins agreed with the Treasury Secretary, posting on X that Congress needs to create rules that prevent future regulatory overreach and send comprehensive market structure legislation to President Trump for approval.
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2026-04-13 00:57