Bitcoin surged sharply, surpassing the $72,000 level, in the period following Armstrong’s statements. $BTC’s gains in the last 24 hours approached 10%, and market activity accelerated with the crypto-friendly statements from Washington.
Armstrong: There’s a Great Sense of Urgency in the Trump Administration
Coinbase CEO stated that he also attended a meeting held by US President Donald Trump at the White House on Wednesday with high-ranking figures from the cryptocurrency and traditional finance sectors.
According to Armstrong, one of the most important items on the meeting’s agenda was the long-debated CLARITY Act.
Armstrong said the following regarding the matter:
“Just yesterday, the chairman had a meeting with top regulators from the SEC and the CFTC. This was the main topic of discussion. There was a strong sense of urgency within this administration: to complete and enact CLARITY.”
Following the meeting, Trump also called on Congress to move forward with the Clarity Act, describing the legislation as a “very, very powerful” piece of law.
The bill, which was previously expected to be voted on in August, is now expected to be put to a vote in September following the delay.
The long-awaited CLARITY Act aims to create a comprehensive regulatory framework in the US that determines under what conditions digital assets are classified as securities, commodities, or stablecoins used for payment purposes.
The cryptocurrency sector has argued for years that the legal status of digital assets in the US needs to be more clearly defined. If the bill becomes law, it is expected that the jurisdiction of regulatory bodies such as the SEC and CFTC in the crypto market will also become clearer.
However, the CLARITY Act struggled to progress throughout much of 2026 due to ongoing debates between the banking sector and crypto companies regarding stablecoin yields.
Some banks have warned that crypto companies offering high returns to stablecoin holders could lead to a shift of deposits from traditional banks to crypto platforms.
Armstrong, however, said that not the entire banking sector was opposed to the bill.
The Coinbase CEO said, “There are actually many banks that have stated their support for the CLARITY Act. Most banks acknowledge that it gives them new powers and allows them to grow their businesses thanks to this new technology. That’s great. However, I can say that there are still a few banks that oppose it.”
*This is not investment advice.