Coinbase (COIN) CEO Brian Armstrong came back from Washington more confident than ever that the Digital Asset Market Clarity Act will become law. After days of meetings with lawmakers, he told followers that the level of bipartisan support for the bill shocked even him. “I’ve actually never been more bullish on the market structure bill getting passed,” he said in a video posted on X. “It’s a freight train leaving the station.”
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The bill aims to settle the tug-of-war between regulators like the SEC and CFTC by clarifying who oversees what in crypto markets. Armstrong said that lawmakers on both sides see this as the way to ensure crypto innovation happens in America rather than overseas. In his words, this bill is about making sure “we never have another Gary Gensler trying to take your rights.”
Lawmakers Push for Clarity
The Clarity Act has been circulating in draft form, with lawmakers and industry leaders trading edits before it goes public. The bill seeks to carve out rules for non-stablecoin assets, including tokenized stocks and commodities, that currently sit in a gray area.
Senator Cynthia Lummis has already predicted that the bill will land on President Donald Trump’s desk before year-end. If she’s right, the legislation could be one of the most important milestones yet in U.S. crypto law, giving builders, exchanges, and investors a clear framework.
Builders Demand Protection
While Armstrong emphasized regulatory clarity, others focused on how the bill can protect crypto builders. Kraken CEO Arjun Sethi said his biggest concern was making sure incentives remain with creators of protocols and chains, not just with financial incumbents. “The real fight is bigger,” Sethi said. “It’s about protecting the right to build.”
His comments underline a central tension in the crypto debate. While Wall Street banks worry about competition from yield-bearing stablecoins, crypto executives say the bill must ensure innovation is not choked off by special interests. Armstrong confirmed that lawmakers have no intention of letting banks push through a ban on interest-bearing stablecoins, despite their lobbying efforts earlier this summer.
Bitcoin Reserve Bill Gains Steam
It wasn’t just about the Clarity Act in Washington this week. The Strategic Bitcoin Reserve proposal also took a step forward as 18 industry leaders, including Michael Saylor of Strategy (MSTR) and Tom Lee of BitMine Technologies (BMNR), met with lawmakers to discuss how to fund the plan.
The BITCOIN Act, introduced by Senator Cynthia Lummis, calls for the U.S. government to acquire one million Bitcoin over five years using budget-neutral strategies. Ideas floated include reevaluating Treasury gold certificates and tapping tariff revenue. Taken together with the Clarity Act, the week marks a turning point for how crypto is treated in the halls of power.
Is Coinbase Stock a Good Buy?
Turning to TipRanks, based on 27 analyst ratings for COIN stock over the past three months, the consensus stands at a Moderate Buy, with 13 analysts recommending a Buy, 12 sitting on Hold, and two advising Sell.
The average 12-month COIN price target lands at $377.18, which implies a potential upside of just over 17.7% from the recent price.
