Coinbase wins OCC bank trust charter as CEO backs Clarity Act

Armstrong backs Clarity Act after January reversal; Senate Banking markup still pending

Coinbase CEO Brian Armstrong switched positions and now urges Congress to pass the Digital Asset Market Clarity Act. He says the bill is ready after months of negotiation.

Armstrong withdrew support in January. That move helped delay a planned Senate Banking markup, per Benzinga. Now he writes “It’s time to pass the Clarity Act,” linking to the current draft on Congress.gov and echoing Treasury Secretary Scott Bessent’s call to act, per his post on X here.

Talks are close to a deal, says Coinbase CLO Paul Grewal. He signaled progress last week, per BloomingBit.

The Senate Agriculture Committee approved the bill in January. The Senate Banking Committee has not scheduled its markup yet, according to BloomingBit.

Two committees split the load. Agriculture handles commodities rules. Banking covers securities. Both must align before a floor vote, per BloomingBit.

Coinbase has pressed Congress to finalize market structure rules. Context via Yahoo Finance.