950K Contacts Back CLARITY Act as Coinbase CEO Says Bill Is Ready for Full Senate Vote

Crypto Advocates Escalate Pressure on Senate

Stand With Crypto, a Coinbase-backed grassroots crypto advocacy group, said on July 22 that supporters have made 950,000 contacts and counting with members of Congress as the campaign to advance the CLARITY Act enters a decisive stage.

The group described the bipartisan legislation as a consumer-focused measure that has been years in the making and urged senators to take up the bill.

Coinbase CEO Brian Armstrong joined the push during a visit to Capitol Hill, thanking the group’s members for contacting their representatives and urging lawmakers to complete work on the legislation.

Armstrong wrote on X on July 22:

“The Clarity Act is ready for a full Senate floor vote.”

The campaign follows the release of updated CLARITY Act text by Senator Cynthia Lummis (R-WY) after negotiations involving the Senate Banking and Agriculture committees.

The revised text also includes ethics provisions that would prohibit covered federal officials, including the president, vice president, and members of Congress, as well as their spouses, from issuing or sponsoring digital assets for compensation while in office. Officials could comply by divesting affected holdings or placing them in a qualified blind trust. The restrictions would expire Jan. 20, 2029.

Armstrong Sees Floor Action Within Weeks

In a video recorded during a visit to Capitol Hill, Armstrong described the bill as being “at the one-yard line” and said its next legislative step could come soon.

The Coinbase CEO said:

“I think in the next few weeks, we have a good chance of getting this bill to the full Senate floor.”

He argued that the lack of a comprehensive federal framework has left consumers vulnerable, pushed parts of the crypto industry offshore and reduced the ability of U.S. regulators to oversee companies serving American customers.

Armstrong pointed to the collapse of FTX as an example of the damage bad actors can cause when clear rules and effective oversight are absent. He said the bill would strengthen protections for customers while giving law enforcement more tools to pursue fraud and other misconduct.

“Crypto can’t be uninvented at this point, so whether you love crypto or hate crypto, you should want clear federal laws,” Armstrong wrote.

CLARITY Act Would Divide SEC and CFTC Oversight

According to a Senate Banking Committee fact sheet on the CLARITY Act, the legislation would define regulatory responsibilities for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).

The proposal also includes tailored disclosure requirements, anti-evasion provisions, and restrictions intended to limit insider abuse and market manipulation.

The measure would protect customer crypto assets during exchange bankruptcies and provide key benefits for developers, investors, and markets.

The latest lobbying effort comes during a critical Senate window before the August recess, while lawmakers continue weighing the bill amid broader political scrutiny of cryptocurrency policy.

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The Consumer Technology Association, which represents more than 1,200 technology companies, urged Senate leaders to advance the CLARITY Act as…

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The Consumer Technology Association, which represents more than 1,200 technology companies, urged Senate leaders to advance the CLARITY Act as…