Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Coinbase CEO: Crypto Regulation Outline Expected Around 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 the ‘Clarity Act,’ set for a Senate vote on the 15th, is likely to pass. However, even if it fails, he argues that regulatory clarity could still be achieved through subsequent rule-making 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 passage in the Senate, stating, “Everyone I’ve spoken to agrees with the bill.”
“Honestly, even if the bill doesn’t pass, we could still see a good outcome,” Armstrong said. “The SEC and CFTC have indicated they are ready to announce their rule-making, so we will get regulatory clarity one way or another on the 15th, or a day or two after.”
▲ 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 powers of the SEC and CFTC over virtual assets. Coinbase has been a vocal supporter of this bill.
The bill was introduced in May 2025 and passed the House of Representatives in July last year. A Senate vote is scheduled for the 15th.
However, securing the 60 votes needed for Senate passage is a key challenge. Negotiations are currently underway, particularly concerning ethics provisions.
Senator Ruben Gallego, a Democrat from Arizona, stated at the Wyoming Blockchain Symposium last month, “To secure 60 votes, we need good ethics legislation and to resolve some remaining issues.”
Armstrong acknowledged that the specific details of the ethics provisions are still under negotiation but believes they are “very close to a resolution” ahead of the vote.
코인베이스 로고▲ 코인베이스 로고 [AP/연합뉴스 제공]
▲ “Turning point for institutional capital inflow and tokenized stocks”
Armstrong believes the Clarity Act’s passage could be a significant milestone for the U.S. virtual asset 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 are directly linked to business expansion.
▲ Sluggish spot trading… Half of revenue from trading segment
Coinbase is pursuing business diversification to reduce its reliance on spot virtual asset trading.
Armstrong explained that spot virtual asset trading has “effectively decreased over the past year.”
Currently, about half of Coinbase’s revenue comes from its trading segment. The company is expanding its trading business to include stocks, commodities, and foreign exchange, while its non-trading segments operate stablecoin and institutional custody businesses.
Coinbase reported $1.2 billion in revenue in its Q2 earnings released in July, down from $1.5 billion in the same period last year.
Net loss was $359.5 million, a reversal from a net profit of $1.43 billion in the previous year’s corresponding period.
Coinbase missed Wall Street expectations for both revenue and profit for three consecutive quarters.
▲ Expanding overseas operations to Singapore and UAE
Coinbase is also expanding its business presence outside the U.S.
The company has established hubs 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, the company is expanding its business in markets with more crypto-friendly governments.
“We operate by growing when opportunities arise and waiting for our time in hostile regions,” Armstrong said.
▲ 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 virtual asset trading over the past year.
The market’s focus will now shift to whether the Clarity Act can secure the necessary 60 votes in the Senate on the 15th.
Previous ArticleCoinbase CEO: Crypto Regulation Outline Expected Around the 15th, Even if Clarity Act FailsNext ArticleTSMC’s August Revenue Soars 53% to All-Time High on Exploding AI Chip Demand
Source: news.jkn.co.kr