Coinbase CEO disputes WSJ blame over CLARITY Act
4.2 Regulation Brian Armstrong denies WSJ claims he caused the CLARITY Act's failure, clarifying he opposed only an earlier draft and supported the final bill.
Coinbase CEO Brian Armstrong has criticized the Wall Street Journal (WSJ) for allegedly preparing a report that blames him and Coinbase for the failure of the CLARITY Act, a significant crypto regulatory bill. Armstrong claims the WSJ's coverage has been hostile and influenced by banking lobby interests. He clarified that his opposition was directed at an earlier draft of the bill in January, which he believed had major flaws in DeFi, tokenization, CFTC authority, and stablecoin rewards. Armstrong emphasized that these issues were resolved in the final version, which he fully supported. The CLARITY Act ultimately failed in the Senate by one vote, with no Democratic support and some Republicans withholding votes. Armstrong reaffirmed his commitment to fair crypto regulations and rejected claims that he was responsible for the bill's defeat.
