Brian Armstrong Urges Congress to Pass CLARITY Act and GENIUS Act

Brian Armstrong Urges Lawmakers to Support U.S. Crypto Reform Bills

Coinbase CEO Brian Armstrong has called on U.S. lawmakers to pass two important bills that could shape the future of crypto in America, the CLARITY Act and the GENIUS Act. In a strong message shared on his social media account X (formerly Twitter) Brian said, “We require a holistic regulatory framework for all classes of digital assets. Congress should pass both the acts into law. 52 million American cryptocurrency owners are counting on it.”

Brian commented in response to venture capitalist Chris Dixon, who praised recent progress in Congress. Dixon highlighted that both the House Agriculture and Financial Services Committees approved the “Market Structure Legislation” with bipartisan support. He said the draft assists safeguard consumers, promotes innovation and investment. It also ensures that blockchain technology stays within the U.S.

Source: Brian Armstrong Twitter Handle

What Is the CLARITY Act?

The CLARITY Act, Brian referred to is named officially as H.R. 3633, objective is to make clear regulations for corporate organisations and investors dealing with digital currency. The bill also seeks to define who should regulate crypto markets, the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Many believe the CFTC will take the lead if the bill becomes law.

The bill passed the 47-6 vote in the House Agriculture Committee with a strong majority and with a 32-19 vote in the Financial Services Committee. The bipartisan support shows growing interest in setting clear rules for crypto in the U.S.

Representative French Hill, who introduced the draft of the law, said that digital assets are changing American finance. He believes Congress now has the chance to support innovation by giving the crypto industry the guidance it needs.

GT Thompson, Chair of the House Agriculture Committee, also backed the bill, calling it a “common-sense” step to bring certainty to the digital asset space.

However, not everyone agrees. Maxine Waters, a well known Democrat in the Financial Services Committee, has strongly opposed this draft. She named it the “CALAMITY Act,” saying it could have shortcomings, not appropriate for startups, and benefit major crypto organisations and financial institutions. 

GENIUS Act Moves Forward in Senate

Another bill that Brian mentioned, called the GENIUS Act, is centered on stablecoins, digital currencies that are associated with RWAs like the United States dollar. The bill passed an important Senate vote with 68 in favour while 30 against. This clears the road for further discussion and a full vote on the Senate. 

Senator John Thune, who supported this draft, said this draft would help bring crypto into the mainstream and make the U.S. a global leader in space. However, Senator Elizabeth Warren warned that the bill had serious flaws. She said it lacked strong protections and might help promote corruption, especially due to President Donald Trump’s ties to certain cryptocurrency platforms.

Why It Matters?

According to Brian Armstrong, the approval of these two bills could be a game-changer for crypto in the U.S. They aim to offer clear rules, protect users, and boost innovation. For companies like Coinbase and millions of American digital currency users, this could mean more trust and long-term growth. But strong opinions on both sides show that the road ahead may still be difficult.