Brian Armstrong, CEO of Coinbase, posted a message on X aimed at calming nerves ahead of a decisive vote on cryptocurrency legislation scheduled for next month. "It looks like CLARITY will pass one way or another," wrote Armstrong, outlining two possible scenarios:
- Over 60 votes in the Senate on September 15
- A new set of rules from the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on September 16.
To recall, the CLARITY Act, officially called the "Clarity for Digital Asset Market Act," was approved by the House of Representatives in 2025, but its consideration in the Senate stalled during the summer. On July 17, 2025, the House passed the bill by a wide margin—294 votes to 134—with 78 Democrats crossing the aisle to side with Republicans (demonstrating that the CLARITY Act can garner bipartisan support even in a divided Congress).
In the Senate, Republicans hold 53 seats, so Majority Leader John Thune needs at least seven Democratic votes to overcome the 60-vote threshold to end debate and open discussion on the bill itself, not pass it immediately. Thune filed a cloture motion on August 8, scheduling a procedural vote for September 15 at 2:00 PM.
A failed cloture vote would not necessarily kill the CLARITY Act but would deal a significant blow to hopes of its passage this year. Democrats insist on strengthening provisions related to ethics, conflicts of interest, and illicit financing before supporting the bill, while Republicans prioritize providing regulatory certainty for digital asset companies. Armstrong has previously appealed directly to lawmakers, arguing that a majority of Americans support clear crypto rules and that voters are watching how their senators vote.
Regulators' Backup Plan
CFTC Chairman Mike Selig has instructed his staff to begin creating a "crypto asset market" registration category, similar to the agency's existing special contract market structure, which could apply to digital asset trading platforms even without new legislation.
The SEC and CFTC have also been jointly implementing an initiative called "Project Crypto" since January, and in March both agencies published a joint interpretive framework dividing digital assets into five categories—a preliminary sketch of how regulators might approach cryptocurrencies even in the absence of market structure legislation.
Bitcoin.com News reported that regulators are charting their own course in the crypto space amid the prolonged consideration of the CLARITY Act, further demonstrating that agencies are not waiting for Congress to act.
A Bolder Bitcoin Bet
Armstrong's optimism about regulatory clarity is tied to a larger and bolder forecast he made this week regarding the price of Bitcoin. Appearing on Fox Business's "Varney & Co.," Armstrong stated that it is highly likely Bitcoin will reach between $300,000 and $400,000 by 2030—a forecast implying an increase of over 400% from current levels.
As key factors underpinning his forecast, he cited growing institutional adoption of Bitcoin, Bitcoin's fixed supply, and increasing regulatory clarity in the US (specifically, the passage of the CLARITY Act).
With 15 weeks remaining until September 15, Armstrong's "either way" stance gives the industry reason to expect imminent changes—whether from Senate decisions or actions by federal regulators.
