Coinbase CEO Says He Supports Final CLARITY Act Version, Rebuts Claims He Caused Bill to Stall

AT A GLANCE

Brian Armstrong said he opposed only a flawed early draft, supports the revised final version, and alleges that WSJ plans to blame Coinbase for the bill's failure to pass.

Article

【Coinbase CEO: WSJ is trying to blame for the failure of the CLARITY Act Coinbase】

Coinbase CEO Brian Armstrong posted on X, saying that WSJ is preparing a report blaming for the failure of the U.S. CLARITY Act to pass Coinbase and him personally. Armstrong said that WSJ's previous reporting on the CLARITY Act was clearly hostile and repeated the views of banking industry lobbying groups. Armstrong said that this year he January did oppose an earlier version of the CLARITY Act draft proceeding to a committee vote, because that version still had major flaws concerning DeFi, tokenization, CFTC regulatory authority, and stablecoin rewards, which could harm the crypto industry; the bill also lacked sufficient support at the time and could not pass. He said that afterward,Coinbase worked with multiple parties to advance revisions to the bill, and all four issues above were resolved in the version submitted for committee consideration approximately 4 months later. Armstrong said that the final version of the CLARITY Act submitted to the Senate was very good and that he strongly supported it. Armstrong emphasized that opposing the early draft did not mean opposing the CLARITY Act; rather, he hoped to promote a more comprehensive crypto regulatory framework, and said he would continue working to establish clear and fair rules for the crypto industry in the future.

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Key points

【Coinbase CEO: WSJ is trying to blame for the failure of the CLARITY Act Coinbase】 Coinbase CEO Brian Armstrong posted on X, saying that WSJ is preparing a report blaming for the failure of the U.S. CLARITY Act to pass Coinbase and him personally. Armstrong said that WSJ's previous reporting on the CLARITY Act was clearly hostile and repeated the views of banking industry lobbying groups. Armstrong said that this year he January did oppose an earlier version of the CLARITY Act draft proceeding to a committee vote, because that version still had major flaws concerning DeFi, tokenization, CFTC regulatory authority, and stablecoin rewards, which could harm the crypto industry; the bill also lacked sufficient support at the time and could not pass. He said that afterward,Coinbase worked with multiple parties to advance revisions to the bill, and all four issues above were resolved in the version submitted for committee consideration approximately 4 months later. Armstrong said that the final version of the CLARITY Act submitted to the Senate was very good and that he strongly supported it. Armstrong emphasized that opposing the early draft did not mean opposing the CLARITY Act; rather, he hoped to promote a more comprehensive crypto regulatory framework, and said he would continue working to establish clear and fair rules for the crypto industry in the future

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

No additional explanation is available beyond the summary.

Why it matters to readers

The information comes from Armstrong's own public statement and confirms his position, but the alleged WSJ reporting plan, responsibility for the bill's failure to pass, and the negotiation process among the parties lack independent supporting materials. The matter concerns the U.S. crypto regulatory framework and Coinbase's policy influence, but it is currently primarily a public-opinion dispute, with no new legislative outcome.

Watch for subsequent official information and do not make decisions based on a single report.

Risks and unknowns

Whether WSJ will publish the relevant report and the evidence it presents
The Senate's subsequent schedule for the CLARITY Act and changes to its text
Responses from other lawmakers, industry organizations, or banking-industry groups regarding responsibility

AT A GLANCE

Brian Armstrong said he opposed only a flawed early draft, supports the revised final version, and alleges that WSJ plans to blame Coinbase for the bill's failure to pass.

Article

【Coinbase CEO: WSJ is trying to blame for the failure of the CLARITY Act Coinbase】

🌏🌍🌎🌏🌍🌎 News/advertising contact @Cindy88888

Key points

【Coinbase CEO: WSJ is trying to blame for the failure of the CLARITY Act Coinbase】 Coinbase CEO Brian Armstrong posted on X, saying that WSJ is preparing a report blaming for the failure of the U.S. CLARITY Act to pass Coinbase and him personally. Armstrong said that WSJ's previous reporting on the CLARITY Act was clearly hostile and repeated the views of banking industry lobbying groups. Armstrong said that this year he January did oppose an earlier version of the CLARITY Act draft proceeding to a committee vote, because that version still had major flaws concerning DeFi, tokenization, CFTC regulatory authority, and stablecoin rewards, which could harm the crypto industry; the bill also lacked sufficient support at the time and could not pass. He said that afterward,Coinbase worked with multiple parties to advance revisions to the bill, and all four issues above were resolved in the version submitted for committee consideration approximately 4 months later. Armstrong said that the final version of the CLARITY Act submitted to the Senate was very good and that he strongly supported it. Armstrong emphasized that opposing the early draft did not mean opposing the CLARITY Act; rather, he hoped to promote a more comprehensive crypto regulatory framework, and said he would continue working to establish clear and fair rules for the crypto industry in the future

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

No additional explanation is available beyond the summary.

Why it matters to readers

Watch for subsequent official information and do not make decisions based on a single report.

Risks and unknowns

Whether WSJ will publish the relevant report and the evidence it presents
The Senate's subsequent schedule for the CLARITY Act and changes to its text
Responses from other lawmakers, industry organizations, or banking-industry groups regarding responsibility

Coinbase CEO Says He Supports Final CLARITY Act Version, Rebuts Claims He Caused Bill to Stall

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Coinbase CEO Says He Supports Final CLARITY Act Version, Rebuts Claims He Caused Bill to Stall

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Why it matters to readers

Risks and unknowns

Related Developments

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