950K Contacts Back CLARITY Act as Coinbase CEO Says Bill Is Ready for Full Senate Vote
Coinbase CEO Brian Armstrong said the CLARITY Act is ready for Senate floor consideration as Stand With Crypto reported 950,000 contacts with lawmakers, intensifying pressure for action on a federal digital asset framework.
Stand With Crypto, a Coinbase-backed grassroots advocacy group, said on July 22 that supporters have made 950,000 contacts with members of Congress, urging senators to advance the bipartisan legislation. Armstrong joined the push during a Capitol Hill visit, thanking members and urging lawmakers to complete work on the bill. He wrote on X: “The Clarity Act is ready for a full Senate floor vote.”
The campaign follows updated bill text by Senator Cynthia Lummis after negotiations involving the Senate Banking and Agriculture committees. The revised text includes ethics provisions prohibiting covered federal officials—including the president, vice president, and members of Congress—and their spouses from issuing or sponsoring digital assets for compensation while in office. Officials can comply by divesting holdings or using a qualified blind trust. Restrictions expire Jan. 20, 2029.
In a video, Armstrong described the bill as “at the one-yard line” and said, “I think in the next few weeks, we have a good chance of getting this bill to the full Senate floor.” He argued the lack of a federal framework has left consumers vulnerable and pushed crypto operations offshore. He cited the FTX collapse as an example of damage caused without clear rules. “Crypto can’t be uninvented at this point, so whether you love crypto or hate crypto, you should want clear federal laws,” Armstrong wrote.
The CLARITY Act would define regulatory responsibilities for the SEC and CFTC, include tailored disclosure requirements, anti-evasion provisions, and restrictions to limit insider abuse and market manipulation. It would also protect customer crypto assets during exchange bankruptcies.
The lobbying effort comes during a critical Senate window before the August recess. The Consumer Technology Association, representing over 1,200 tech companies, also urged Senate leaders to advance the bill quickly.