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Coinbase Vice Chair Ryan VanGrack recently told CBS News that the much-talked-about Clarity Act would still be on track to pass before the August recess.
VanGrack claims that he remains optimistic because legislation is never linear. "Last-minute negotiations and compromises are the norm, not the exception when it comes to DC," the Coinbase executive stated.
He has noted that the substance is largely done, given that there is a "multi-hundred-page bill" with customer protections and law enforcement tools.
According to VanGrack, it is particularly significant that this bill is the product of extensive negotiations with Republicans and Democrats. "And, typically, when the substance is good, and it is done on a bipartisan basis, you usually end up in the right place in the end…" VanGrack added.
What the bill will actually do
VanGrack has stated that the bill will actually help to clarify which activities belong in one space.
"Crypto has been around for 15 years, and no one took the time to figure out where this new technology fits within these categories," he added.
The executive claims that investors and innovators will finally know who they have to interact with.
"The industry is seeking to be regulated. It is not fighting against it…In fact, Coinbase sued the SEC to try to get it to promulgate rules and regulations," VanGrack added.
Most recent developments
Senate Democratic leadership is reportedly trying to delay a key procedural vote on the crypto market structure bill, arguing that it is too early to proceed before the White House responds to a bipartisan ethics proposal. Despite that push, Senate Majority Leader John Thune has insisted that the procedural vote will still take place.
At the same time, Coinbase CEO Brian Armstrong has publicly renewed pressure on lawmakers to pass the legislation.
The mounting uncertainty has also affected market sentiment. Research firm Bernstein warned that failure to pass the CLARITY Act could weigh on crypto asset valuations by prolonging regulatory uncertainty in the U.S.
According to Polymarket, the odds of the CLARITY Act becoming law in 2026 have fallen to just 24%, down sharply from 57% in early June.