TLDR
- Brian Armstrong said the CLARITY Act is “closer than ever” before the May 14 markup.
- Coinbase now supports the bill after opposing an earlier draft in January.
- The updated draft includes a compromise on stablecoin rewards.
- Armstrong said concerns around DeFi, tokenized equities and CFTC authority improved.
- Democrats still seek deals on ethics language and developer protections before the vote.
Coinbase CEO Brian Armstrong has voiced support for the updated Digital Asset Market CLARITY Act as the Senate Banking Committee prepares to review the crypto market structure bill on Thursday, May 14, 2026.
Brian Armstrong said the CLARITY Act is “closer than ever” after months of negotiations between lawmakers, banks, crypto firms and Senate staff. His comments mark a clear change from January, when Coinbase opposed an earlier version of the bill over stablecoin rewards, decentralized finance rules and market oversight language.
The updated bill is designed to create clearer rules for digital assets in the United States. It would define how crypto tokens are classified, set boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and establish rules for trading platforms, stablecoins and decentralized finance.
CLARITY is closer than ever.
The bill is strong. It will benefit the American people by making the US financial system faster, cheaper and more accessible. It will also ensure that the US leads in the global race to build the next generation of our financial system.
Huge thank… pic.twitter.com/mt8lkJ4W3v
— Brian Armstrong (@brian_armstrong) May 13, 2026
Armstrong said the latest draft reflects “healthy compromises” and could help make the U.S. financial system faster, cheaper and more accessible. He also thanked Senate staff and the 3.7 million Stand With Crypto supporters who have pushed for crypto legislation.
Brian Armstrong Says Bill Has Improved
Brian Armstrong said Coinbase now supports the bill because several concerns raised earlier this year have been addressed. Those concerns included DeFi protections, tokenized equities, CFTC authority and stablecoin reward language.
In a public post, Armstrong wrote that the bill is ready for committee review and urged lawmakers to move it forward. He also praised Senate staff for working through technical issues that had slowed the legislation earlier in the year.
The Coinbase CEO is expected to meet with Senate Republican members ahead of the markup. His support gives the bill added backing from one of the largest U.S. crypto companies at a critical stage in the legislative process.
Coinbase has argued for years that the U.S. needs a federal crypto market structure law. The company says current rules leave exchanges, token issuers, developers and investors facing uncertainty over which assets are securities, commodities or another category.
Stablecoin Rewards Deal Moves Forward
Stablecoin rewards were one of the main disputes in earlier versions of the CLARITY Act. Banks had opposed language that could allow crypto firms to offer rewards that resemble interest on stablecoin balances.
The current draft includes a compromise led by Senators Thom Tillis and Angela Alsobrooks. Under the reported structure, companies cannot pay rewards simply for holding payment stablecoins. However, activity-based incentives may apply when users complete actions such as payments or trades.
Brian Armstrong said neither side received everything it wanted, but he described that result as a sign of compromise. Coinbase had previously objected to language that it believed could block consumer reward programs and limit stablecoin use.
Banking groups remain concerned that the bill may still allow crypto platforms to offer products that compete with deposits. Some banks are pressing lawmakers for tighter language before the committee vote.
The stablecoin issue remains central because the bill could shape how digital dollars operate in the United States. Stablecoins are used for trading, payments and settlement, and lawmakers are trying to balance innovation with banking system concerns.
Democrats Still Weigh Ethics and Developer Protections
The bill still faces political hurdles. A bipartisan group of senators reportedly ended talks without a final deal on at least two unresolved issues before the markup.
One issue involves ethics and conflict-of-interest language tied to government officials and their families. Some Democrats have pushed for stronger safeguards before supporting the bill.
Another dispute involves the Blockchain Regulatory Certainty Act provisions. These rules would protect non-custodial software developers from being prosecuted as money transmitters when they do not control user funds. Some Democrats and law enforcement groups have raised concerns about how those protections may affect financial crime cases.
Senator Cynthia Lummis said lawmakers agree on most of the bill and urged Democrats to continue working on the remaining issues after committee passage. Reports suggest the markup may proceed on a partisan basis if no agreement emerges.
Brian Armstrong said Coinbase is staying out of the ethics debate while lawmakers and the White House work on a solution. He said the broader goal remains passing crypto rules that allow the United States to lead in digital financial infrastructure.
If the Senate Banking Committee advances the CLARITY Act, the bill would still need broader Senate support and coordination with Senate Agriculture’s related crypto legislation. The Thursday markup will show whether months of negotiation have created enough support to move the bill forward.
