Coinbase CEO Brian Armstrong accused Sen. Elizabeth Warren of trying to “kill” the CLARITY Act.
Armstrong said President Donald Trump was convening officials and industry figures to push the legislation “over the finish line.”
The Coinbase chief argued that permanent legislation could protect the crypto industry from hostile future administrations.
Coinbase CEO Brian Armstrong has accused Senator Elizabeth Warren of trying to derail the CLARITY Act as the landmark crypto legislation approaches a critical Senate test.
Speaking on The Katie Miller Podcast, Armstrong claimed Warren and established financial interests were lobbying against the bill because they did not want greater competition from crypto companies.
The Coinbase chief also credited President Donald Trump with bringing regulators and industry representatives together to help move the legislation forward.
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Armstrong Says Warren Is Trying to ‘Kill’ CLARITY Act
The Coinbase CEO claimed “entrenched incumbents” were concerned that crypto companies could compete with traditional financial institutions by offering cheaper and more efficient services.
“Some of them are actively lobbying against it, trying to kill it,” Armstrong said.
“There’s senators like Elizabeth Warren who are out there trying to kill it.”
Armstrong also escalated his criticism of the Massachusetts Democrat, claiming she would prefer greater government control over the financial system.
“I think she wishes the government was running all financial services or something like that,” he said.
It comes as resistance to the existing CLARITY Act text extends beyond Warren.
Seven Democratic senators said in July that the Republican proposal fell short on consumer protection, illicit finance, market integrity, ethics and conflicts of interest.
Despite opposing the current text, the group said it would continue working with Republicans to strengthen the legislation and get it “over the finish line.”
Armstrong Credits Trump With Driving CLARITY Act Push
“The president is convening a group of people to get the CLARITY Act over the finish line,” he said.
The executive also praied SEC Chair Paul Atkins and CFTC Chair Michael Selig for making progress on clearer crypto regulations.
However, the Coinbase CEO argued that regulatory action alone was not enough.
“Now we’ve got to get legislation passed to make it durable and cement it so that it can stand for many decades into the future and can’t get changed by some future administration,” he said.
The President very astutely recognized there are millions of Americans who felt disenfranchised by the prior Administration’s attack on crypto.
It’s time to get the Clarity Act, which will protect consumers, over the finish line. There is something in it for everyone: banks, law… pic.twitter.com/WWtyirkDH2
Armstrong pointed to Trump’s crypto executive order, his appointments of Atkins and Selig and the passage of stablecoin legislation as evidence of the administration’s support for the industry.
“We’ve got an opportunity to do the second piece of it with the CLARITY Act and get that over the finish line,” Armstrong said.
The Coinbase chief also declared that Trump deserved “a lot of credit” for recognizing the importance of crypto.
According to Armstrong, Trump identified “millions of crypto voters” who believed the previous administration had treated the industry unfairly.
The 60-Vote Senate Test
The Senate’s official schedule states that the cloture motion on the CLARITY Act will take place on Sept. 15.
Under Senate rules, cloture on legislation requires 60 votes in the 100-member chamber.
Armstrong said the upcoming vote could help shield the industry from future regulatory crackdowns.
“The lack of clarity has really held back progress, and it actually got weaponized in the prior administration,” he said.
The Coinbase CEO argued that permanent rules established through Congress would be more difficult for subsequent administrations to undo.
“The CLARITY Act coming up for a vote on September 15th, it’s almost going to protect us from bad government with clear rules,” Armstrong said.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
