Coinbase CEO Armstrong Calls for SEC and CFTC to Clarify Crypto Regulations Using Existing Authority

The Senate's progress on the CLARITY bill stalled on the 16th. Coinbase ($COIN) co-founder and CEO Brian Armstrong stated that 'we can no longer wait for Congress,' emphasizing that the SEC and CFTC could establish clear rules for virtual asset regulation within their existing authority. Marsbit reported on the 16th that Armstrong believes bipartisan dialogue and follow-up discussions on the bill may continue, but regulatory agencies are expected to take concrete action on related work.

Armstrong also assessed that the GENIUS law covers current regulations in the stablecoin sector with more flexible compensation rules. He noted that while the CLARITY bill might include difficult concessions, virtual assets will not disappear after invention and continued regulation by agencies with clear guidelines would keep transforming the financial system.