The CLARITY Act returned to the center of debate in the United States after receiving new support from Coinbase ahead of the Senate vote. For the exchange, the proposal represents an important step toward establishing clear rules for the cryptocurrency market and expanding the use of blockchain technology by the financial system.
In an interview with Fox Business, Coinbase policy director Shirzad described the bill as "a dramatic advance in consumer protection and market integrity". According to him, passage of the legislation could reduce the regulatory uncertainty faced by the sector.
The executive stated that "CLARITY is the legislation that gives us the regulatory certainty to offer these products to our customers. There is a huge and broad movement across the entire financial system to move financial assets onto the blockchain."
The proposal creates the first comprehensive federal framework to regulate cryptocurrencies in the US. The text divides responsibilities between the SEC and the CFTC, establishes criteria to classify digital assets, defines requirements for issuers, and creates rules for the registration of trading platforms.
The bill has been moving through Congress since 2025. After approval in the House, the proposal received the green light from the Senate Banking Committee in May 2026 by 15 votes to 9. This week, lawmakers released the consolidated version, which is expected to be considered on the floor in the week of July 20.
Approval requires at least 60 votes before the legislative recess, scheduled for August 7.
The text also gained support from the current president of the United States, Donald Trump, who defended the swift approval of the measure to prevent China from leading innovation in the cryptocurrency sector. In addition, the Federal Law Enforcement Officers Association (FLEOA) has officially come out in support of the proposal.
The main resistance continues to be led by Senator Elizabeth Warren, who says that some exceptions provided for non-custodial services could favor sanctions evasion. Shirzad pushed back on the criticism by highlighting that platforms will continue to be subject to the rules of the Bank Secrecy Act, including anti-money laundering programs and customer verification.
Earlier this month, the executive stated: “This is not a free pass for cryptocurrencies”, describing the proposal as “a rigorous safety mandate”. With only a few weeks before the Senate recess, the sector's attention is now focused on the bill's decisive vote.
