Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Coinbase CEO: Crypto Regulation Outline Expected Around the 15th, Even if Clarity Act Fails
장선희Reporter2026.09.10 15:05
Brian Armstrong, CEO of Coinbase, one of the largest cryptocurrency exchanges in the U.S., expects digital asset regulatory frameworks to be established soon. He believes there’s a strong likelihood of the ‘Clarity Act’ passing a Senate vote on the 15th. However, even if it fails, he argues that regulatory clarity can still be achieved through subsequent rulemaking by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
CNBC reported on the 10th that Armstrong, appearing on ‘Squawk Box Asia,’ expressed optimism about the Clarity Act’s chances in the Senate, stating, “People I’ve spoken with are in agreement on the bill.”
Armstrong commented, “Honestly, even if the bill doesn’t pass, there could still be a positive outcome. The SEC and CFTC have indicated they are ready to announce rulemaking, so whether it’s on the 15th or a day or two after, we will get regulatory clarity one way or another.”
▲ The ‘Clarity Act’ Defines Oversight Boundaries for SEC and CFTC
The Clarity Act aims to establish a federal regulatory framework for the U.S. digital asset market.
Its core purpose is to more clearly delineate the oversight authority of the SEC and CFTC over virtual assets. Coinbase has been an outspoken supporter of this bill.
The bill was first introduced in May 2025 and passed the House of Representatives last July. A Senate vote is scheduled for the 15th of this month.
However, securing the 60 votes needed for Senate passage is a key challenge. Negotiations are currently underway, particularly concerning ethics provisions.
Democratic Senator Ruben Gallego of Arizona stated at the Wyoming Blockchain Symposium last month, “To secure 60 votes, we need good ethics legislation and also need to resolve a few remaining issues.”
Armstrong noted that while the specifics of the ethics provisions are still under negotiation, they are “very close to a solution” ahead of the vote.
▲ “Turning Point for Institutional Capital Inflow and Tokenized Stocks”
Armstrong views the passage of the Clarity Act as a significant milestone for the U.S. crypto industry.
He described the bill’s passage as a “regulatory checkbox,” suggesting that reduced regulatory uncertainty would lead to increased institutional investor capital inflow and pave the way for new products like tokenized stocks in the U.S.
He further emphasized, “It will be a big milestone.”
For Coinbase, changes in the regulatory environment directly translate to business expansion opportunities.
▲ Spot Trading Slump… Half of Revenue from Trading Division
Coinbase is pursuing business diversification to reduce its reliance on spot cryptocurrency trading.
Armstrong explained that spot crypto trading has “essentially declined over the past year.”
Currently, about half of Coinbase’s revenue comes from its trading division. The company is expanding its trading business to include stocks, commodities, and foreign exchange, while its non-trading segments include stablecoins and institutional custody services.
Coinbase reported $1.2 billion in revenue for the second quarter, announced in July. This was down from $1.5 billion in the same period last year.
Net loss was $359.5 million, a turnaround from a net profit of $1.43 billion in the previous year’s corresponding quarter.
Coinbase’s revenue and profit both missed Wall Street estimates for the third consecutive quarter.
▲ Expanding Overseas Business to Singapore and UAE
Coinbase is also expanding its business presence outside the United States.
The company has established bases in the United Arab Emirates (UAE) and Singapore. Armstrong described Singapore as its Asian hub.
He stated that securing overseas bases was crucial during a period when the U.S. regulatory environment was relatively less favorable. Concurrently, he explained that the company is expanding in markets with governments more friendly to cryptocurrencies.
Armstrong said, “We grow when opportunities open up, and we wait it out in regions where we feel hostility.”
▲ Coinbase Stock Down 23% This Year
Coinbase’s stock price has fallen approximately 23% this year.
Armstrong attributed some of the pressure on the company’s performance to the sustained decline in spot crypto trading over the past year.
Moving forward, the market’s focus will likely be on whether the Clarity Act can secure the necessary 60 votes in the Senate on the 15th.
Previous Article45% Oppose Hormuz Strait Deployment, Posing a Challenge for GovernmentNext ArticleCoinbase CEO: Crypto Regulation Outline Expected Around 15th, Even If Clarity Act Fails
Source: news.jkn.co.kr