{"id":45544,"date":"2026-06-01T19:15:45","date_gmt":"2026-06-01T19:15:45","guid":{"rendered":"https:\/\/cryptd.in\/coinbase-exec-sees-path-to-cryptos-dodd-frank-moment-as-clarity-act-heads-for-senate-floor\/"},"modified":"2026-06-01T19:15:45","modified_gmt":"2026-06-01T19:15:45","slug":"coinbase-exec-sees-path-to-cryptos-dodd-frank-moment-as-clarity-act-heads-for-senate-floor","status":"publish","type":"post","link":"https:\/\/cryptd.in\/ko\/coinbase-exec-sees-path-to-cryptos-dodd-frank-moment-as-clarity-act-heads-for-senate-floor\/","title":{"rendered":"Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor"},"content":{"rendered":"<p><a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a><br \/>\n<img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/06\/Coinbase-Exec-Sees-Path-to-Cryptos-Dodd-Frank-Moment-as-CLARITY-Act-Heads-for-Senate-Floor.jpg\" \/><br \/>\n<a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/news\/coinbase-exec-sees-path-to-cryptos\">Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor<\/a><\/p>\n<div><\/div>\n<p>The fate of America\u2019s current crypto market may hinge on a Senate vote expected this month, and few people are watching it closer than Coinbase Chief Policy Officer Faryar Shirzad. <\/p>\n<p>In an <a href=\"https:\/\/www.foxbusiness.com\/video\/6397211653112\" target=\"_blank\" rel=\"noopener\">\uc778\ud130\ubdf0<\/a> on Fox Business\u2019 Mornings with Maria earlier today, Shirzad made the case that the Digital Asset Market Clarity Act \u2014 known as the CLARITY Act \u2014 represents the most significant financial regulatory legislation since Dodd-Frank, and that passage is within reach.<\/p>\n<p>\u201cThis will be the biggest financial regulatory bill that Congress has done in quite some time, certainly since Dodd-Frank,\u201d Shirzad said. \u201cWhat this does is it creates clarity for the crypto sector.\u201d<\/p>\n<p>The stakes are high. Wyoming Senator Cynthia Lummis <a href=\"https:\/\/x.com\/SenLummis\/status\/2060381902670819481\">issued<\/a> a blunt warning on X on May 29, telling lawmakers this Congress represents the final window for action. \u201cThe next window for digital asset legislation after this Congress is likely 2030,\u201d Lummis wrote. \u201cUntil then, developers remain exposed with no legal protections, and law enforcement remains without the tools to hold bad actors accountable. The CLARITY Act solves both.\u201d<\/p>\n<p>The bill <a href=\"https:\/\/bitcoinmagazine.com\/news\/senate-committee-advances-clarity-act\">cleared<\/a> the Senate Banking Committee in a 15-9 vote on May 14, with Democratic Senators Ruben Gallego of Arizona and Angela Alsobrooks of Maryland crossing party lines to support it. But the full floor vote is a different math problem. The bill needs 60 votes to clear the Senate, and with November\u2019s midterm elections compressing the legislative calendar, the window for passage is measured in weeks.<\/p>\n<p>Shirzad expressed confidence that the numbers are there.<\/p>\n<p>\u00a0\u201cThe Republican caucus is pretty unified,\u201d he said. \u201cThe president\u2019s been putting a shoulder into this, and there\u2019s a very large group of Democrats who want to get this done. We\u2019ve got about 80 Democrats in the House who voted for this, and I think we\u2019ll get a proportional number in the Senate.\u201d\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" class=\"wp-smiley\" \/> Coinbase Chief Policy Officer says The Clarity Act is &#8220;very close to getting done.&#8221;<\/p>\n<p>&#8220;I know JPMorgan want to get into it. Every other big bank wants to get into the crypto sector.&#8221; <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f440.png\" alt=\"\ud83d\udc40\" class=\"wp-smiley\" \/> <a href=\"https:\/\/t.co\/O3G3XaLo82\">pic.twitter.com\/O3G3XaLo82<\/a><\/p>\n<p>- \ube44\ud2b8\ucf54\uc778 \ub9e4\uac70\uc9c4 (@BitcoinMagazine) <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/2061501687890579849?ref_src=twsrc%5Etfw\">June 1, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">U.S. government\u2019s pro-crypto legislation<\/h2>\n<p>President Trump has made crypto legislation a White House priority, <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116648950505497613\" target=\"_blank\" rel=\"noopener\">posting<\/a> on Truth Social with a pledge to codify a \u201cfuture-proof\u201d digital asset market \u2014 and his team is targeting a July 4 signing.<\/p>\n<p>Shirzad framed the bill not as a crypto-versus-banks fight, but as an expansion of opportunity for the traditional financial sector.\u00a0<\/p>\n<p>\u201cThis will be the first piece of legislation since the 90s that gives banks new authorization to get into the crypto space,\u201d he said. \u201cI know JPMorgan wants to get into it. Every other big bank wants to get into the crypto sector. We welcome their entry.\u201d<\/p>\n<p>Coinbase\u2019s confidence extends beyond legislation. The exchange scored a significant regulatory win on May 29, when the Commodity Futures Trading Commission issued guidance that cleared Coinbase Financial Markets to connect U.S. institutional clients to global crypto derivatives markets.\u00a0<\/p>\n<p>Coinbase Financial Markets became the first CFTC-regulated futures commission merchant to offer domestic clients access to global crypto perpetuals and options \u2014 instruments that account for roughly 80% of all global crypto trading volume. The exchange acquired derivatives platform Deribit, which holds over $31 billion in Bitcoin options open interest, and began institutional onboarding immediately. Retail access is planned for a later date.<\/p>\n<p>\u201cThis is a big regulatory unlock,\u201d Shirzad said. \u201cIt shows that U.S. regulators are trying to execute on what the president has said \u2014 which is to bring the crypto markets onto U.S. soil.\u201d<\/p>\n<p>On the state of the broader crypto market, Shirzad pushed back against any notion that the big trades are behind investors.\u00a0<\/p>\n<p>\u201cWe\u2019re even more bullish about crypto as a technology,\u201d he said, pointing to the integration of blockchain-based infrastructure across major banks and financial services firms. \u201cCrypto is now the accepted upgrade of the financial system.\u201d\u00a0<\/p>\n<p>He described the coming era as \u201ctokenized\u201d \u2014 financial applications built on blockchain rails \u2014 with the CLARITY Act providing the legal foundation that would unlock participation from both crypto-native firms and legacy institutions.<\/p>\n<p>One live issue remains the stablecoin rewards provision. Senators Thom Tillis and Angela Alsobrooks <a href=\"https:\/\/bankingjournal.aba.com\/2026\/05\/report-senators-reach-deal-on-stablecoin-yield\/\" target=\"_blank\" rel=\"noopener\">brokered<\/a> a compromise in May that bars rewards on stablecoins that are economically or functionally equivalent to bank deposit interest, while preserving activity-based incentives. Shirzad said the language is settled.\u00a0<\/p>\n<p>\u201cThe key architects of that compromise \u2014 Senator Tillis and Senator Alsobrooks \u2014 have been clear that the language is fixed,\u201d he said. \u201cThis is the compromise they intend to defend with their colleagues.\u201d<\/p>\n<h2 class=\"wp-block-heading\">Dimon calls Coinbase\u2019s Armstrong \u201cfull of sh*t\u201d\u00a0<\/h2>\n<p>On May 28, when JPMorgan Chase CEO Jamie Dimon sat down with Maria Bartiromo on Fox Business and <a href=\"https:\/\/bitcoinmagazine.com\/news\/jpmorgan-chase-ceo-dimon-declares-war\">fired a direct shot at the bill<\/a> \u2014 and at Coinbase CEO Brian Armstrong.<\/p>\n<p>In the interview and in remarks at the Reagan National Economic Forum, Dimon called Armstrong\u2019s characterization of the banking industry\u2019s position on the bill dishonest, using language that circulated widely across social media.<\/p>\n<p>Armstrong responded with a hockey-themed meme that drew broad support from across the crypto industry.<\/p>\n<p>Dimon\u2019s core objection centers on the stablecoin rewards provision \u2014 the same one Coinbase spent months fighting to protect. He argued that allowing crypto platforms to offer yield-like rewards on stablecoins gives those platforms a structural advantage over chartered banks, which operate under a different set of rules.<\/p>\n<p>\u201cIf you want to be a bank, be a bank,\u201d Dimon told Bartiromo. He also cited concerns about anti-money laundering compliance and Bank Secrecy Act enforcement, calling the bill unenforceable in its current form and saying banks would not accept it without changes.<\/p>\n<p>The standoff is not without irony. Coinbase uses JPMorgan as its own bank \u2014 a point Shirzad made unprompted.<\/p>\n<p>\u201cJP Morgan is our bank, and they\u2019ve worked with us and stayed by our side, even through the Biden administration,\u201d Shirzad said.\u00a0<\/p>\n<p>This post <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/news\/coinbase-exec-sees-path-to-cryptos\">Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor<\/a> first appeared on <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a> and is written by <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/authors\/micahzimmerman\">Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin Magazine Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor The fate of America\u2019s current crypto market may hinge on a Senate vote expected this month, and few people are watching it closer than Coinbase Chief Policy Officer Faryar Shirzad. In an interview on Fox Business\u2019 Mornings with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-45544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/ko\/coinbase-exec-sees-path-to-cryptos-dodd-frank-moment-as-clarity-act-heads-for-senate-floor\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Magazine Coinbase Exec Sees Path to Crypto\u2019s \u2018Dodd-Frank Moment\u2019 as CLARITY Act Heads for Senate Floor The fate of America\u2019s current crypto market may hinge on a Senate vote expected this month, and few people are watching it closer than Coinbase Chief Policy Officer Faryar Shirzad. 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