After CLARITY Setback, Armstrong Says ‘We Can’t Wait on Congress Anymore’

The US Senate failed to advance the Digital Asset Market Clarity Act after the procedural vote fell short of the 60 needed to move forward.

While this was “disappointing,” Coinbase co-founder Brian Armstrong said that bipartisan talks may continue and the bill could get another chance. The exec, however, acknowledged that the industry “cannot wait” for Congress anymore.

Calls for a Post-Mortem Armstrong said that the SEC and CFTC already have enough authority to establish clear rules and expects them to start working on that in earnest.

According to the Coinbase chief, “clarity” is coming to crypto regardless of what happens with the bill. Armstrong also noted that some concessions made on CLARITY were difficult to accept.