Coinbase CEO Brian Armstrong Denies Blame for Clarity Act Senate Vote Failure

With the procedural vote to advance the Clarity Act to full Senate debate failing, Coinbase CEO Brian Armstrong denied reports attributing blame for the bill's potential demise to Coinbase and himself. The Wall Street Journal reported that Coinbase withdrew its support for the bill earlier this year and Armstrong's public statements may have contributed to delays in the legislative process. The US Senate failed a procedural vote on Thursday (local time) 49-50, though it did not decide the bill's final fate. Armstrong later stated that even if the Clarity Act fails, the SEC and CFTC could clarify regulations using their existing authority, emphasizing that the industry cannot wait for Congress to act.