Coinbase Global IncCoinbase CEO Brian Armstrong met with Trump, the SEC chair, and CFTC chair at the White House to push the CLARITY Act forward, and the Senate cloture vote could advance crypto legislation favorable to Coinbase.

The US Senate is set to vote on closing debate on the CLARITY Act on Tuesday, September 15, amid conflicting signals from Washington just under a day before the key vote. The House version of the bill has drawn support from every Republican member and roughly 80 Democrats, while a key 250-page set of Democratic priorities has already been folded into the Senate version, and there is an agreement between the White House and Senate Democrats on Democratic nominees to the SEC and CFTC for the first time under the Trump administration, along with a new set of ethics provisions restricting the president's own crypto transactions, a first in history. Brad Garlinghouse of Ripple, Brian Armstrong of Coinbase, and the CEO of Chainlink met directly with Trump, the SEC chair, and the CFTC chair at the White House to seek a way forward on unresolved issues. Meanwhile, Congressman French Hill argued that relying on SEC or CFTC regulation instead of actual legislation is risky, because agency rules can be fought in court for years, and anti-crypto-regulation forces are expected to fund legal challenges, while a law is far harder to repeal than a legal exemption. Crypto analyst Tony said the Senate's cloture vote on the CLARITY Act on Tuesday could push the market higher if it passes, potentially triggering a major surge on the Bitcoin chart, with altcoins likely to follow. He pointed to a bullish divergence forming on the Bitcoin chart alongside a bearish divergence in stablecoin market share, and argued that the bearish forecasts tied to the four-year cycle theory, which call for Bitcoin to fall to $30,000-$40,000 in October, describe a low-probability scenario. A separate crypto tax hearing is also scheduled in the House on Wednesday, September 16, and progress there will add further intensity to a week packed with major events for the industry.
Coinbase Global IncCoinbase CEO Brian Armstrong met with Trump, the SEC chair, and CFTC chair at the White House to push the CLARITY Act forward, and the Senate cloture vote could advance crypto legislation favorable to Coinbase.
Ripple CEO Brad Garlinghouse met directly with Trump, the SEC chair, and the CFTC chair at the White House to seek a way forward on unresolved crypto issues as the CLARITY Act advances.