Summary
- Coinbase CEO Brian Armstrong said the CLARITY Act passed the Senate Banking Committee, raising expectations for a clearer U.S. digital asset regulatory framework.
- Armstrong said the latest revision improved the compensation framework, tokenization, decentralized finance (DeFi) and CFTC authority, and said he expects final passage to help make the U.S. the world’s crypto capital.
- The market expects final passage of the CLARITY Act to help drive greater institutional investment, growth in the tokenization market and broader expansion of the crypto industry in the U.S.
Forecast Trend Report by Period
Coinbase Chief Executive Officer Brian Armstrong welcomed the U.S. Senate Banking Committee’s approval of the CLARITY Act, fueling expectations for a clearer U.S. regulatory framework for digital assets.
On May 14, Armstrong wrote on X, formerly Twitter, that the CLARITY Act on crypto regulation had passed the Senate Banking Committee in a bipartisan vote. He called it “a historic day for crypto and the future of digital assets in America.”
Armstrong said the revised bill improved on the January version in several areas, including the compensation framework, tokenization, decentralized finance, or DeFi, and the authority of the Commodity Futures Trading Commission, or CFTC.
He also said he was proud of the time spent fighting for customers and that he looked forward to final passage of the CLARITY Act, which he said would help position the U.S. as the world’s crypto capital.
The CLARITY Act had already cleared a markup session in the Senate Banking Committee. It is set to proceed to a full Senate vote after jurisdiction is coordinated with the Senate Agriculture Committee and the measure goes through an integration process.
The market expects final passage of the bill to support broader institutional investment, growth in the tokenization market and expansion of the U.S. crypto industry.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
