- Coinbase CEO Brian Armstrong reports strong momentum for U.S. crypto legislation in Washington, D.C.
- Bipartisan discussions are advancing, with only a small percentage of unresolved issues remaining.
- Armstrong is optimistic that the legislation may receive committee approval by Thanksgiving and could pass by year-end.
- The legislative focus is on clearer rules for decentralized finance (DeFi) and stablecoin rewards.
- Coinbase has taken creative steps, such as distributing “clari-tea” to lawmakers, to raise awareness for crypto clarity.
Coinbase CEO Brian Armstrong stated on Thursday that efforts to establish clear U.S. crypto legislation have reached a peak in Washington, D.C., even as Congress remains in recess. Armstrong highlighted that significant progress is being made toward passing a crypto market structure bill.
On his official X account, Armstrong emphasized that both Senate Democrats and Republicans are cooperating to resolve the final details. He indicated that 90% of the issues are settled and that lawmakers are working together across party lines.
According to Armstrong, the remaining 10% of topics are actively being negotiated. He stated, “We’re bullish on getting a bill passed by year-end, and hopeful it’s out of Committee by Thanksgiving.” Armstrong did not specify which particular crypto bill is under discussion.
The legislative push focuses on new rules for decentralized finance (DeFi)—which enables transactions without traditional financial intermediaries—and regulations regarding stablecoin rewards. Armstrong said that Coinbase is maintaining advocacy efforts in D.C., including distributing cans of “clari-tea” green tea to lawmakers as a lighthearted way to promote policy clarity.
In a separate social media update, Armstrong wrote, “America votes pro-crypto because more CLARITY helps everybody.”
The timeline suggested by Armstrong indicates potential committee approval before Thanksgiving, with possible passage of the bill before the end of the year. Further details on the contents of the legislation and specific measures are yet to be disclosed.
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