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| Coinbase CEO Brian Armstrong Image |
On October 22, 2025, Coinbase CEO Brian Armstrong visited Washington, D.C. He met with Senate Democrats, Republicans, and White House officials. The goal was to advance stalled cryptocurrency legislation, including the CLARITY Act, which aims to create clear rules for digital assets.
Armstrong shared his plans on X, expressing excitement to work with key leaders to get the market structure bill to the President's desk. Bipartisan support is at an all-time high. Lawmakers continue talks despite a government shutdown. Armstrong called the bill a "freight train leaving the station," believing it has a strong chance to pass.
The CLARITY Act passed the House Financial Services Committee in May 2025 and the full House in July with a 294-134 vote. It proposes oversight by the Commodity Futures Trading Commission (CFTC) for digital commodities like Bitcoin, while the Securities and Exchange Commission (SEC) would handle tokens acting like securities. It sets up a new disclosure system for digital commodities, covering risks and resale limits to close gaps in current rules.
Other crypto leaders joined the push, including executives from Galaxy Digital, Kraken, Uniswap, Ripple, Chainlink, Circle, a16z, Jito, and Solana Policy Institute. Mike Novogratz, Dave Ripley, Hayden Adams, Stuart Alderoty, Sergey Nazarov, Dante Disparte, Miles Jennings, Rebecca Rettig, and Kristin Smith participated.
The meetings focused on reviving stalled talks. A leaked Democratic proposal on DeFi caused tensions two weeks ago. Republicans wanted a set markup date, while Democrats sought more time for bipartisanship. The roundtables aim to address trading ambiguities and reduce reliance on offshore platforms.
Senator Kirsten Gillibrand, a strong advocate for crypto rules, led a roundtable with Senate Democrats. She co-sponsored the Responsible Financial Innovation Act with Senator Cynthia Lummis, suggesting a joint SEC-CFTC committee to end regulatory disputes.
Senate Republicans held sessions, with Banking Committee Chair Tim Scott and Cynthia Lummis hosting an afternoon roundtable. David Sacks, President Trump's policy lead on crypto and AI, met with senators like John Kennedy, who warned against rushing the bill.
White House officials joined the talks, focusing on getting the bill to President Biden. Industry leaders prioritize its passage before midterm elections.
The crypto industry needs clear rules due to gaps in current laws and SEC enforcement. The bill could define securities, cover DeFi, and help U.S. companies compete globally.
On October 21, the Federal Reserve held a Payments Innovation Conference with crypto experts, including Coinbase CFO Alesia Haas, Cathie Wood from Ark Invest, and Jenny Johnson from Franklin Templeton, showing growing ties with traditional finance.
Experts note the bill’s complexity may require multiple hearings. TD Cowen analysts doubt passage before elections, but momentum is building with bipartisan work. The Senate needs 60 votes.
If passed, the CLARITY Act could provide stability, enable innovation, protect investors, and slow offshore moves.
Armstrong remains optimistic, citing strong support from prior meetings in September. Other leaders like Novogratz, Adams, and Ripley push for clear, fair rules.
The industry works with both parties for a balanced law to boost the U.S. as a crypto hub. Talks continue, with aides hoping for progress soon.
October 22 marks a big day for crypto policy. Leaders like Armstrong lead the charge. The CLARITY Act’s success could shape the future of digital assets in America.
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