Coinbase CEO Brian Armstrong withdraws support for the CLARITY Act, accusing banks of using the bill to kill crypto rewards and competition.Coinbase CEO Brian Armstrong withdraws support for the CLARITY Act, accusing banks of using the bill to kill crypto rewards and competition.

Brian Armstrong Slams CLARITY Act: "Banks Trying to Kill Competition"

2026/01/16 19:30

In a dramatic shift for U.S. crypto policy, Coinbase CEO Brian Armstrong has officially pulled the exchange's support for the Digital Asset Market Clarity Act of 2026. Armstrong’s reversal comes just as the Senate Banking Committee prepared to vote on the bill, which was initially hailed as a landmark for regulatory certainty.

According to Armstrong, the current draft has been "poisoned" by banking lobbyists seeking to stifle the growth of the digital asset sector. "We'd rather have no bill than a bad bill," Armstrong stated, emphasizing that the proposed legislation would leave the industry in a worse position than the current status quo.

Why Coinbase is Breaking with Lawmakers

The primary "red line" for Coinbase revolves around stablecoin rewards. The latest version of the CLARITY Act includes provisions—strongly supported by traditional banking groups—that would effectively ban platforms from offering passive interest or rewards on payment stablecoins like USDC.

Banking lobbyists have argued that these rewards trigger "deposit flight," siphoning billions away from traditional savings accounts. Armstrong, however, views this as a direct attack on consumer choice. "We can't really have banks come in and try to kill their competition at the expense of the American consumer," he noted during a recent interview.

Key Issues in the CLARITY Act

Beyond stablecoin rewards, Armstrong highlighted several critical flaws in the 300-page document:

  • De Facto Ban on Tokenized Equities: The bill imposes restrictions that would make it nearly impossible to trade stocks on the blockchain.
  • DeFi Prohibitions: New rules would grant the government "unlimited access to financial records," severely undermining user privacy.
  • Erosion of CFTC Authority: The draft expands the SEC's power to classify assets, moving away from the industry-preferred CFTC oversight.

The Battle for the Future of Finance

This legislative standoff highlights the growing tension between traditional exchanges and the crypto ecosystem. While some industry leaders like Ripple's Brad Garlinghouse still see the bill as a "step forward," Coinbase’s withdrawal has effectively stalled the Senate vote, forcing lawmakers back to the drawing board.

For investors, the outcome of this "bank vs. crypto" war will determine whether high-yield stablecoin products remain a viable alternative to low-interest bank accounts.

시장 기회
The AI Prophecy 로고
The AI Prophecy 가격(ACT)
$0.02706
$0.02706$0.02706
+3.16%
USD
The AI Prophecy (ACT) 실시간 가격 차트
면책 조항: 본 사이트에 재게시된 글들은 공개 플랫폼에서 가져온 것으로 정보 제공 목적으로만 제공됩니다. 이는 반드시 MEXC의 견해를 반영하는 것은 아닙니다. 모든 권리는 원저자에게 있습니다. 제3자의 권리를 침해하는 콘텐츠가 있다고 판단될 경우, service@support.mexc.com으로 연락하여 삭제 요청을 해주시기 바랍니다. MEXC는 콘텐츠의 정확성, 완전성 또는 시의적절성에 대해 어떠한 보증도 하지 않으며, 제공된 정보에 기반하여 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다. 본 콘텐츠는 금융, 법률 또는 기타 전문적인 조언을 구성하지 않으며, MEXC의 추천이나 보증으로 간주되어서는 안 됩니다.