The chief executive of Coinbase, America's largest publicly traded cryptocurrency exchange, stated on Thursday that the Digital Asset Market Clarity Act, designed to establish a federal regulatory framework for digital assets in the U.S., is highly likely to pass given the widespread backing from crypto firms, law enforcement agencies, and numerous banks.

During an interview, Brian Armstrong noted that the legislation has garnered support within the Senate, and those he has spoken with have expressed approval for the bill. While Armstrong is optimistic about its prospects for Senate passage, he indicated that even if it ultimately fails, the industry would still achieve clearer regulation.

"Frankly, even if the bill does not pass, that itself would be a positive outcome, because the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have already signaled their willingness to issue regulatory rules. We would receive regulatory clarity within 15 days or a day or two after that regardless," he said.

Coinbase Global, Inc. has been an active proponent of the Clarity Act, which seeks to delineate the regulatory responsibilities of the SEC and the CFTC regarding digital assets. The bill is scheduled for a Senate vote on September 15, with securing 60 votes emerging as a key hurdle, and ethics provisions among the issues under discussion.

"To reach 60 votes, we need well-crafted ethics regulations and to resolve some outstanding matters," said Senator Ruben Gallego, a Democrat from Arizona, at a blockchain symposium in Wyoming last month.

Armstrong said that the specifics of the ethics provisions are still being developed and negotiated, but a resolution appears "very close" ahead of the vote. He characterized the potential passage of the Clarity Act as a "regulatory checkbox" that could help unlock institutional capital and pave the way for products such as tokenized equities in the United States.

"This would be a major milestone." The Clarity Act, introduced in May 2025, aims to establish clearer rules for the U.S. crypto industry and was passed by the House of Representatives in July.