Coinbase CEO Pushes Back on Blame for CLARITY Act Senate Failure
CEO Brian Armstrong denies Coinbase caused the CLARITY Acts Senate setback.Coinbase withdrew support in January, then backed the revised bill by May.The Senate vote failed 49-50 amid ethics and crypto policy disputes. Coinbase CEO Brian Armstrong has denied that he or Coinbase are responsible for the CLARITY Act failing to move forward in the U.S. Senate. He said the bill failed because of changes to the legislation and unresolved political disagreements. Armstrong spoke about the issue on Sept. 19 after saying The Wall Street Journal was preparing a story that would blame him and Coinbase for the bills failure. Armstrong criticized the Journal, saying it had been against the CLARITY Act and was repeating arguments made by banking groups. He said Coinbase had supported federal crypto legislation for years, but temporarily opposed an earlier version of the bill because he believed some parts could hurt the crypto industry. The dispute follows a Senate vote on Sept. 15. Senators voted 49-50 on whether to move forward with the CLARITY Act, but the bill needed 60 votes to pass the procedural step. The motion failed, although Republican Sen. Thom Tillis later introduced a motion to reconsider the vote. Armstrongs January Opposition In January, Coinbase withdrew its support for









