Coinbase CEO Brian Armstrong has responded to the Senate’s failure to advance the CLARITY Act. He explained that the U.S. crypto industry can still move toward clearer rules without waiting for Congress.
The Senate failed to advance the legislation in a September 15 procedural vote, with 49 votes in favor and 50 against.
In his tweet, Armstrong said the result was disappointing but left open the possibility to continue bipartisan negotiations. However, he said the industry could no longer wait for Congress to establish its regulatory framework.
“The SEC and CFTC have the tools they need to create clear rules under existing authority,” Armstrong wrote, adding that he expects both agencies to begin working on the issue in earnest. He concluded that “clarity is coming to crypto regardless.”
The CLARITY Act didn't advance in the Senate today, which was a disappointment. While it's possible bi-partisan conversations continue and it lives to fight another day, we can't wait on Congress anymore.
The SEC and CFTC have the tools they need to create clear rules under…
— Brian Armstrong (@brian_armstrong) September 15, 2026
The comments reflect a position Armstrong had also expressed before the Senate vote. Earlier in September, he said that if Congress failed to pass the legislation, the Securities and Exchange Commission and Commodity Futures Trading Commission could still use their existing authority to establish rules for the industry.
Armstrong Points To GENIUS Act
Armstrong also pointed to the GENIUS Act, which established a federal framework for stablecoins, as an existing piece of crypto legislation. He noted that the law is already in effect and described its treatment of rewards as more permissive than provisions that had been under consideration in CLARITY.
He added that Coinbase had accepted concessions during negotiations over the CLARITY Act that were difficult for the company. Armstrong suggested that the bill’s failure could therefore have a positive side for the industry if regulators create rules without some of those compromises.
“Crypto can’t be uninvented,” Armstrong wrote. “With clarity emerging through the regulators, we’ll continue updating the financial system.”
Critics Blame Coinbase For Legislative Outcome
Armstrong’s comments also drew criticism from members of the XRP and broader crypto communities. XRPL validator Vet said the industry previously had legislation sufficient for crypto innovation in the United States.
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When Documenting XRP similarly claimed that Armstrong was part of the problem, 2dM26 wrote that Coinbase was responsible for the industry’s present position because “the first round wasn’t good enough for you.”
Those comments reflect criticism of Coinbase’s legislative strategy and its earlier objections to provisions in versions of crypto market-structure legislation. Coinbase opposed earlier versions of CLARITY over issues including stablecoin rewards before later supporting a revised version.
The Senate setback now leaves the immediate path toward comprehensive market-structure legislation uncertain. Armstrong said that SEC and CFTC rulemaking could provide an alternative route, while critics maintain that congressional legislation would have provided a more durable framework for the industry.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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