Coinbase CEO Expects SEC and CFTC to Define Crypto Rules After CLARITY Act Stalls

Coinbase CEO Brian Armstrong expressed disappointment that the CLARITY Act did not advance in the Senate on September 16. Despite the legislative setback, Armstrong suggested that the SEC and CFTC already possess the authority to provide regulatory clarity and expects them to begin defining rules. He emphasized that the industry will continue to evolve and modernize the financial system regardless of Congressional progress.